Twitter has exaggerated the number of daily users on its service for three consecutive years, exceeding 1.9 million users each quarter. The error was due to unintentionally Twitter accounted for multiple active accounts when they were all linked to a single user, even if they weren’t all in use. These incorrect usage numbers were provided for the first quarter of 2019 through the fourth quarter of 2021.
This, in a way, isn’t the first time Twitter has done this. In 2017, Twitter also realized It has been exaggerating its user numbers by about 1 to 2 million users for three years. The recurrence of the error was revealed today on Twitter earnings release for the first quarter of 2022.
The updated numbers don’t completely change the rules of the game: Twitter now has 229 million daily users, which is still more than 10 million, even from the inflated number last quarter. But it was one of Twitter’s recent embarrassing blunders as the company is squabbling over a deal to be considered private, at which point it will no longer have to share those numbers publicly.
Twitter reported an operating loss of $128 million on revenue of $1.2 billion, both in line with its own guidance for the quarter. Revenue was up 16 percent year over year, with Twitter citing “headwinds linked to the war in Ukraine.”
Monday, Twitter Purchase offer accepted From Elon Musk, agreeing to give him control of the company for $44 billion. The deal is expected to close later this year.
Because of the pending sale, Twitter says it will stop providing guidance on its performance and “withdraw all previously provided goals and expectations.”
Musk has made vague statements about how he will change Twitter, promising to “improve[e] product with new features”, make its algorithms open source, fight against spam, and check all users. It also endlessly tinkers about turning it into platform for freedom of expressionwhich raised concerns about how he would oversee oversight of the platform.
Notably, Musk said the Twitter purchase “Not a way to make money. The company has never been a huge winner, and Musk has repeatedly emphasized that he wants to make changes to Twitter so that it remains a “de facto town square.”
Let’s make Twitter more fun!
– Elon Musk April 28, 2022
Some Twitter employees are public Expressed concern About Musk’s potential acquisition prior to the agreement, Musk was only able to validate their concerns in the past few days as he continued to tweet critically about the company’s decisions. In particular, his criticism of Twitter policy leader Vijaya Jade was so led to harassment from other users of the site.
Twitter was supposed to discuss today’s earnings release on a call with investors but canceled the event “in light of the pending transaction.” Should the deal close, today’s numbers will be one of the last public earnings releases for the company.