Twitter boosts sales and profits amid Musk Takeover
Twitter will start 2022 with about 23 percent less revenue than the previous quarter, but don’t worry: the first quarter of the year is traditionally the weakest of the microblogging service. As the Statista chart based on the current quarterly report shows, Q1 2022 revenue is about 16 percent higher than the prior-year and a full 49 percent higher than Q1 2020.
Twitter 2022 also shows its revenue in terms of operating results. profit strong side. After a net loss of about $1.3 billion in the past two years, the California company posted a profit of more than $513 million from January to April 2022 – eclipsing the quarterly profits of the past two years.
Now that it is clear that Elon Musk will take over as the new owner of Twitter, it remains to be seen how the company will develop in the future. Twitter has never been a particularly profitable business, which is why many experts wonder why Musk is making such a huge investment. Tesla’s CEO had already announced in advance that he wanted to enforce more freedom of expression on the platform.
Users who recently turned their backs on Twitter now want to rejoin the network. Donald Trump, however, has ruled out a return to Twitter, saying he wants to remain loyal to his own network, Truth Social. According to the company, Twitter has approximately 215 million daily active users worldwide.
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