Twitter (NYSE:TWTR) just reported earnings for the first quarter of 2022, in what could be one of its last reports as a public company after its board agreed to sell to Elon Musk for $44 billion.
The social media giant said earnings per share amounted to 61 cents, not comparable to estimates
Revenues came in at $1.2 billion as opposed to the expected $1.23 billion.
Monetizable Daily Active Users, or mDAUs, totaled 229 million vs 226.9 million expected.
Shares of Twitter were up 62 cents, or 1.3%, soon after trading got underway on Thursday, to $49.26.
Twitter missed analyst revenue estimates, reporting 1.2 billion versus the 1.23 billion analysts were expecting, according to Refinitiv. It reported 61 cents earnings per share, which was not comparable to estimates because it includes a gain from the sale of MoPub.
The company said the 229 million mDAUs it reported in the quarter represents a 15.9% increase from the same period last year. In the U.S. mDAUs were up 6.4% from the prior year’s quarter, at 39.6 million. International mDAUs came in at 189.4 million, up 18.1% from the year before.
It also corrected previously reported mDAU numbers that overcounted some accounts from Q1 2019 through Q4 2021. Twitter said the error, which incorrectly reported roughly 1.4 to 1.9 million extra mDAUs per quarter during that period, was made after launching a feature allowing users to easily switch between their separate accounts. As a result, the company said that during that period, all linked accounts were counted as mDAUs when an action was made by the primary account.