Twitter says it expects the deal with Mr Musk to be concluded by the end of this year, although this is subject to various conditions, including the approval of shareholders and regulators.
Twitter has reported first-quarter revenue of $1.2bn (£970m), just days after agreeing to a $44bn (£35bn) sale to Tesla billionaire Elon Musk. The amount was slightly below analysts’ average estimate of $1.23bn (£990m), according to IBES data from Refinitiv, while net income was $513.3m (£412m) – up from $68m (£54m) a year earlier. Also during the first quarter, which ended on 31 March, the number of daily users grew to 229 million – a 16% rise. Mr Musk offered to buy Twitter earlier this month, vowing to make it a haven for free speech, reduce its reliance on advertising, and deal with the proliferation of spam-distributing bots.
