ANL 10.60 Increased By ▲ 0.19 (1.83%)
ASC 9.32 Increased By ▲ 0.11 (1.19%)
ASL 11.90 Increased By ▲ 0.13 (1.1%)
AVN 80.66 Increased By ▲ 4.61 (6.06%)
BOP 5.55 Increased By ▲ 0.06 (1.09%)
CNERGY 5.50 Increased By ▲ 0.13 (2.42%)
FFL 6.75 Increased By ▲ 0.04 (0.6%)
FNEL 6.05 Increased By ▲ 0.12 (2.02%)
GGGL 11.43 Increased By ▲ 0.13 (1.15%)
GGL 16.88 Increased By ▲ 0.38 (2.3%)
GTECH 8.81 Increased By ▲ 0.28 (3.28%)
HUMNL 7.27 Increased By ▲ 0.05 (0.69%)
KEL 3.12 Increased By ▲ 0.25 (8.71%)
KOSM 3.15 Increased By ▲ 0.05 (1.61%)
MLCF 26.90 Increased By ▲ 0.91 (3.5%)
PACE 3.10 Decreased By ▼ -0.05 (-1.59%)
PIBTL 6.10 Increased By ▲ 0.06 (0.99%)
PRL 18.50 Increased By ▲ 0.35 (1.93%)
PTC 7.11 Increased By ▲ 0.10 (1.43%)
SILK 1.19 Increased By ▲ 0.02 (1.71%)
SNGP 34.05 Increased By ▲ 0.80 (2.41%)
TELE 11.40 Increased By ▲ 0.28 (2.52%)
TPL 9.54 Increased By ▲ 0.32 (3.47%)
TPLP 20.71 Increased By ▲ 0.54 (2.68%)
TREET 30.20 Increased By ▲ 1.50 (5.23%)
TRG 78.30 Increased By ▲ 2.55 (3.37%)
UNITY 20.55 Increased By ▲ 0.27 (1.33%)
WAVES 12.85 Increased By ▲ 0.25 (1.98%)
WTL 1.45 No Change ▼ 0.00 (0%)
YOUW 4.94 Increased By ▲ 0.19 (4%)
BR100 4,160 Increased By 76.4 (1.87%)
BR30 15,387 Increased By 402.4 (2.69%)
KSE100 41,879 Increased By 826.8 (2.01%)
KSE30 16,009 Increased By 346.4 (2.21%)

Twitter Inc, which has agreed to a $44 billion sale to Elon Musk, said on Thursday it added more users than Wall Street had expected for the first quarter even as revenue came in slightly below estimates.

The company also withdrew all previously provided goals and outlook, given the pending acquisition.

The company said daily active users rose to 229 million users in the first quarter ended March 31, from 199 million, a year earlier. Analysts on average had expected 226.8 million daily active users.

Twitter, which has struggled to shake off a stagnation in its user base, has been working to improve its targeting and measurement of ads and testing e-commerce ad formats, while spending aggressively on initiatives such as video advertisements.

Wall St inches higher as Meta earnings offset GDP gloom

While Musk has not made clear how he plans to “fix and improve” Twitter, he has spoken about a subscription-based business model and a crackdown on bot accounts.

It reported revenue of $1.2 billion, compared with analysts’ average estimate of $1.23 billion, according to IBES data from Refinitiv.

Its net income rose to $513.3 million, or 61 cents per share, from $68 million, 8 cents per share, a year earlier.

The San Francisco-based company’s shares rose about 0.7% in trading before the bell.

Comments

Comments are closed.