Twitter admits to being overused for years 2022-04-28 08:04:39

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Twitter on Thursday reported mixed first-quarter earnings, defying Wall Street expectations for revenue but adding users. He also admitted to over-counting some monetized daily active users between the first quarter of 2019 and the fourth quarter of 2021.

why does it matter: Analysts had expected the tech giant to report poor results, given that its board of directors finalized an acquisition deal with Elon Musk this week. This may be the latest report on Twitter’s earnings as a publicly traded company.

details: The company generated $1.2 billion in revenue last quarter, just short of analyst estimates. Other ad-supported tech giants also missed their first-quarter revenue forecasts in response to macroeconomic headwinds affecting the advertising market.

  • Twitter also said that it inadvertently overstated the number of monetized daily active users due to a feature that allows people to link multiple separate accounts together in order to switch between them easily. I counted these two separate accounts as users for more than three years.

recovery: This isn’t the first time Twitter has admitted to over-calculating its user base. In 2017, the company She said It has overestimated its user base numbers for the past three years.

in numbers, for every CNBC:

  • Earnings per share: 61 cents, not comparable to estimates
  • Revenues: $1.2 billion versus the $1.23 billion forecast, according to Refinitiv
  • Monetized Daily Active Users (mDAUs): 229 million versus 226.9 million expected, according to StreetAccount

What’s Next: Twitter did not provide forward-looking guidance due to the pending transaction.

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