Twitter income climbs to $1.2B, done every one day users rise to 229M

Twitter income climbs to $1.2B, done every one day users rise to 229M

SAN FRANCISCO (AP) — Twitter's quarterly profit, income with every one other accompanied by the number of done every one day users on its platform are rising nevertheless its latest income report, released days following it agreed to exist sold to billionaire Elon Musk, offered scant details concerning what it expects on the monetary front for the relax of the year.

The communal media firm on Thursday reported netting income of $513 million, or 61 cents a share. The numbers hit analyst expectations nevertheless were fueled by a large one-time gain from the sale of its MoPub business.

Revenue rose 16% to $1.2 billion inside the trio months to March compared accompanied by the same time last year.

Twitter, based inside San Francisco, reported an signify of 229 million done every one day operative users inside the quarter, which was concerning 14 million additional than a revised 214.7 million done every one day users inside the foregoing quarter.

Twitter canceled a conference call accompanied by executives with every one other accompanied by manufacturing analysts that normally accompanies its results, so there will exist little further insight into the company's contemporaneous monetary condition.

"Given the pending acquisition of Twitter by Elon Musk, we will not exist providing some forward looking guidance, with every one other accompanied by are withdrawing all formerly provided goals with every one other accompanied by outlook," the firm said.

Elon Musk

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Musk's $44 billion deal to buy Twitter was announced earlier this week with every one other accompanied by is expected to near sometime this year. But earlier to the deal is completed, shareholders will have to measure the heaviness of in, while well while regulators inside the U.S. with every one other accompanied by inside countries where Twitter does business. So a lengthy way though, few hurdles are expected, in malice of objections from some of Twitter's own employees, down accompanied by users who fret concerning Musk's stance on without charge speech with every one other accompanied by what it strength signify for harassment with every one other accompanied by hate speech on the platform.

Musk, who too runs the electric automobile firm Tesla, while well while SpaceX with every one other accompanied by other ventures, says he plans to lay clasp of Twitter private. If he does, the firm will no indeed longer exist beholden to shareholders or publicly report its monetary results, which have been mixed at finest since the firm went condition inside 2013.

Twitter has struggled to consistently pole profits while a condition firm while generating lackluster income grow compared to the set of two presiding forces inside digital advertising, Google with every one other accompanied by Facebook.

On one hand, going private could present with Twitter additional space to experiment while focusing less on short-term profit with every one other accompanied by its merchandise price. On the other hand, flat the world's richest male is probable to want the firm to build money.

"I believe there is nothing better for Twitter than Elon Musk buying it with every one other accompanied by in a perfect world replacing the board, with every one other accompanied by too doubling down on investments into products with every one other accompanied by new revenue-generating sources," John Meyer, a technology entrepreneur with every one other accompanied by investor, told The Associated Press earlier this week.

Twitter income climbs to $1.2B, done every one day users rise to 229M