Just days after Elon Musk’s $44 billion buyout of Twitter, the company released its Q1 earnings report on Thursday, attesting to a bump in users and a simultaneous decline in revenue.
At the close of the quarter, Twitter reported monetizable daily active usage (mDAU) of 229 million, surpassing quarterly expectations for 226.9 million mDAU. This also showed significant growth than Q4’s report of 217 million mDAU. Altogether, the past year saw mDAU growth of 15.9 percent.
However, the company has still struggled to grow its revenues up to expectations: Revenue totaled $1.2 billion, down from $1.57 billion in Q4 but still a 16 percent year-over-year increase. The company has blamed the loss of revenue in part on the suspension of advertising in Russia and Ukraine in response to the ongoing war between said countries.
…