SAN FRANCISCO — Twitter’s quarterly profit, revenue and the number of daily users on its platform are rising but its quarterly report, released days after, offered scant details about what it expects on the financial front for the rest of the year.
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. Musk, who paid $54.20 for each outstanding share of Twitter, did not speak publicly on the quarterly report from his new company, perhaps among its last as a publicly traded entity.
Musk, who also runs the electric car company Tesla, as well as SpaceX and other ventures, says he plans to take Twitter private. If he does, the company will no longer be beholden to shareholders or publicly report its financial results, which have been mixed at best since the company went public in 2013.
Source: News Formal (newsformal.com)
'Civil discourse has long been the biggest casualty on [Twitter] — and that was before a problematic billionaire touting freedom of speech reached an agreement to buy the site,' writes NotesFromHeL. But, she explains why she won't be leaving the platform.
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