Twitter revenue increases up to $1.2B daily

Twitter’s quarterly earnings, sales, and daily users are all increasing, but the company’s quarterly report, issued just days after agreeing to be sold to billionaire Elon Musk, included little specifics about its financial outlook for the remainder of the year.

The social network firm announced net income of $513 million, or 61 cents per share, on Thursday, although it included a large one-time gain from the sale of its MoPub business, clouding comparisons with the prior year.

Revenue, mostly from advertising, increased 16 percent to $1.2 billion in the three months to March compared to the same time last year, however the business claimed the number included “headwinds related with the situation in Ukraine,” without going into further detail.

Twitter claimed an average of 229 million daily active users in the quarter, which was nearly 14 million more than the previous quarter’s corrected figure of 214.7 million daily users.

The San Francisco corporation postponed a conference call with executives and industry experts that traditionally precedes the release of its earnings, so there will be little new information about the company’s present financial situation.

“Given Elon Musk’s anticipated acquisition of Twitter, we will not give any forward-looking information and are removing all previously disclosed goals and expectations,” the business wrote.

Musk, who is paying $54.20 per outstanding share of Twitter, did not comment publicly on the quarterly report, which might be one of the company’s final as a publicly listed firm.

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