Germany: Twitter
SAN FRANCISCO (AP) — Twitter is reporting earnings of $513 million for the first quarter days after it agreed to be sold to billionaire Elon Musk. The social media company said Thursday that revenue rose 16% to $1.2 billion in the three months to March compared with the same period last year.
San Francisco-based Twitter reported an average of 229 million daily active users in the quarter. Musk’s $44 billion deal to buy Twitter was announced earlier this week and the deal is expected to close later this year.
Twitter canceled the 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.
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