Twitter says revenue is growing, but pulls forecasts amid Elon Musk acquisition
CBSN
Twitter said on Thursday that its first-quarter revenue jumped 16% as it added more users and advertisers, but the social media company added it is pulling "all previously provided goals and outlook" due to its pending acquisition by billionaire Elon Musk.
Twitter also said it won't provide forward-looking guidance that it won't hold its customary conference call to discuss the quarterly results, citing the deal with the billionaire and Tesla CEO.
Twitter's latest financial results show that the company grew its customer and advertiser base prior to Musk's unsolicited bid, although its revenue of $1.2 billion was slightly shy of analysts' forecast of $1.23 billion, according to Factset. Twitter, which has struggled to consistently post profits as a public company, said it earned $513 million in the quarter, although that was due to an almost $1 billion gain from the sale of its MoPub unit.
The Federal Trade Commission asked a federal judge on Wednesday to delay a trial in a case accusing Amazon of using deceptive practices in its Prime subscription program, citing staffing and budgetary challenges at the government agency.
Oliver Miller, a beefy center who helped Arkansas advance to the Final Four before playing nine seasons in the NBA, has died. He was 54.
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Waterbury, Conn. — A Connecticut man who said he was held captive for 20 years was rescued after setting fire to his room and telling first responders he did it to gain his freedom, police said Wednesday.
Robert Morris, founding pastor of Gateway Church, a megachurch in Southlake, Texas, has been indicted on five counts of lewd or indecent acts with a child, stemming from alleged incidents dating back to the 1980s, the Oklahoma attorney general's office announced Wednesday. We are aware of the actions being taken by the legal authorities in Oklahoma and are grateful for the work of the justice system in holding abusers accountable for their actions. We continue to pray for Cindy Clemishire and her family, for the members and staff of Gateway Church, and for all of those impacted by this terrible situation.
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Washington — Less than two months since President Trump's inauguration, the Republican-led Senate has confirmed nearly every one of his Cabinet nominees.
The Environmental Protection Agency on Wednesday said it would "formally reconsider" a landmark 2009 finding by the agency that greenhouse gases are a danger to public health.
Another norovirus outbreak sickened passengers on board the cruise ship Coral Princess in February, marking the second outbreak this year on the ocean liner operated by Princess Cruises, according to the Centers for Disease Control and Prevention.