On Thursday, Twitter released its first quarterly financial report for 2022. It claims that despite revenue for Q1 reaching $1.2 billion, the company operated at a loss….
Facepalm: Elon Musk’s Twitter acquisition is still not in the bag, and the company’s first-quarter financial result might quell the tycoon’s enthusiasm over the deal. In addition to substantial negative growth, Twitter admitted to making an error that caused user counts to be higher than the actual numbers for the last three years. On Thursday, Twitter released its first quarterly financial report for 2022. It claims that despite revenue for Q1 reaching $1.2 billion, the company operated at a loss. Perhaps even more interesting is that the company admitted to accidentally overinflating monetizable daily active user (mDAU) counts. It blamed the error on a change to how it managed user accounts. «In March of 2019, we launched a feature that allowed people to link multiple separate accounts together in order to conveniently switch between accounts,» the report reads.
