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Twitter’s first quarterly earnings report of 2022 showed that its earnings and revenue came relatively close to predictions.
According to the report, which may be its last as a public company after Elon Musk affirmed that he could take the social media platform private, Twitter’s revenue clocked in at $1.2 billion compared to the expected $1.23 billion based on a survey of analysts at Refinitiv.
Twitter also surpassed predictions for earnings per share at 4 cents adjusted compared to the anticipated 3 cents.
StreetAccount predicted that the firm’s Monetizable Daily Active Users (mDAUs) would come to 226.9 billion, but Twitter reported 229 million, marking a 15.9% increase from the same time last year.
The company also corrected previous mDAU numbers from the first quarter of 2019 through the fourth quarter of 2021. Twitter claimed that it overcounted its mDAUs by around 1.4 million to 1.9 million per quarter due to a new feature that allowed users to switch between accounts. Because of this, the platform said linked accounts were counted as mDAUs.
