Twitter, in possibly last quarterly report, sees user growth

Twitter is reporting earnings of $513 million for the first quarter days after it agreed to be sold to billionaire Elon Musk

LONDON -- Twitter’s quarterly profit, revenue and the number of daily users on its platform are rising but its quarterly report, released days after agreeing to be sold to billionaire Elon Musk, offered scant details about what it expects on the financial front for the rest of the year.

The social media company on Thursday reported net income of $513 million, or 61 cents a share, but that includes a big one-time gain from the sale of its MoPub business, clouding comparisons with the year-ago period.

Revenue, most of it from ads, rose 16% to $1.2 billion in the three months to March compared with the same period last year, though the company said the figure reflected “headwinds associated with the war in Ukraine,” without elaborating.

Twitter reported an average of 229 million daily active users in the quarter, which was about 14 million more than a revised 214.7 million daily users in the previous quarter.