Technology

Twitter (TWTR) earnings Q1 2022

twitter-twtr-earnings-q1-2022

Musk would have been appointed to Twitter’s board on Saturday, but the world’s richest man informed the company on the day that he would not, in fact, be taking the board seat.

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Twitter 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.

Here are the key numbers:

  • Earnings per share: 61 cents, not comparable to estimates
  • Revenue: $1.2 billion vs $1.23 billion expected, according to Refinitiv
  • Monetizable Daily Active Users (mDAUs): 229 million vs 226.9 million expected, according to StreetAccount

Before the deal was formally announced on Monday, some analysts speculated that Twitter might have wanted to finalize the deal before reporting earnings this weak, anticipating a disappointing quarter.

Snap reported last week that its revenue was impacted by macroeconomic trends weighing on advertisers, which could similarly affect Twitter.

Though it could still take months for Musk’s deal to buy Twitter to close, the company canceled its usual earnings conference call in light of Monday’s acquisition news.

Musk has signaled he’d like to use his ownership to make Twitter a more open platform, both through transparency in its algorithms and processes and in being more tolerant of different views.

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