Market Updates
Twitter's Global Daily Active Users Rise 16%
Scott Peters
28 Apr, 2022
New York City
Twitter, Inc reported first quarter 2022 revenues increased 16% to $1.2 billion, net income in the quarter rose to $513 million from $68 million, and earnings per share increased to 61 cents from 8 cents a year ago.
Net income of $513 million includes a pre-tax gain of $970 million from the sale of MoPub for $1.05 billion and income taxes related to the gain of $331 million.
This compares to net income of $68 million, a net margin of 7% and diluted EPS of $0.08 in the same period of the previous year.
The average monetizable daily users increased 15.9% to 229 driven by 6.4% increase to 39.6 million and 18.1% increase in international users to 189.4 million.
The company also corrected its previous daily active users between first quarter in 2019 and fourth quarter 2021.
Twitter said it made an error after the company allowed users with multiple accounts to switch between accounts and overcounted users between 1.4 million and 1.9 million in that period. The error resulted from overcounting separate but linked accounts as individual accounts.
Outlook and Guidance
The company is no longer providing forward looking earnings estimates and withdrawing all provided goals and outlook.
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