Arab Times

Twitter revenue climbs to $1.2b

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SAN FRANCISCO, April 28, (AP): Twitter’s quarterly profit, revenue and the number of daily users on its platform are rising but its quarterly report, released days after agreeing to be sold to billionair­e Elon Musk, offered scant details about what it expects on the financial front for the rest of the year.

The social media company on Thursday reported net income of $513 million, or 61 cents a share, but that includes a big one-time gain from the sale of its MoPub business, clouding comparison­s with the year-ago period.

Revenue rose 16% to $1.2 billion in the three months to March compared with the same period last year, though the company said the figure reflected “headwinds associated with the war in Ukraine,” without elaboratin­g.

Twitter reported an average of 229 million daily active users in the quarter, which was about 14 million more than a revised 214.7 million daily users in the previous quarter.

The San Francisco company canceled a conference call with executives and industry analysts that usually accompanie­s its results, so there will be little further insight into the company’s current financial condition.

“Given the pending acquisitio­n of Twitter by Elon Musk, we will not be providing any forward looking guidance, and are withdrawin­g all previously provided goals and outlook,” Twitter said.

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