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Twitter sees growth in users, profit

Twitter’s quarterly revenue, income and the variety of each day customers on its platform are rising, in keeping with its quarterly report launched days after agreeing to be bought to billionaire Elon Musk.

The social media firm on Thursday reported web revenue of $US513 million ($A723 million), or 61 cents a share, however that features a large one-time acquire from the sale of its MoPub enterprise, clouding comparisons with the year-ago interval.

Income, most of it from advertisements, rose 16 per cent to $US1.2 billion within the three months to March in contrast with the identical interval final yr, although the corporate stated the determine mirrored “headwinds associated with the war in Ukraine”, with out elaborating.

Twitter reported a mean of 229 million each day lively customers within the quarter, which was about 14 million greater than a revised 214.7 million each day customers within the earlier quarter.

The San Francisco firm cancelled a convention name with executives and trade analysts that normally accompanies its outcomes.

“Given the pending acquisition of Twitter by Elon Musk, we will not be providing any forward-looking guidance,” the corporate stated.

Musk, who’s paying $US54.20 for every excellent share of Twitter, didn’t communicate publicly on the quarterly report, maybe amongst its final as a publicly traded entity.

Musk’s $US44 billion deal to purchase Twitter was introduced this week and is predicted to shut this yr.

However earlier than the deal is accomplished, shareholders should weigh in, in addition to regulators within the US and in nations the place Twitter does enterprise.

Thus far, although, few hurdles are anticipated, regardless of objections from a few of Twitter’s personal workers, together with customers who fear about Musk’s stance on free speech and what it’d imply for harassment and hate speech on the platform.

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