Social media platform Twitter Inc (NYSE:TWTR) reported first-quarter financial results Thursday before the market open. Here’s how many users the company has and how it compares over the past year.
What Happened: Twitter reported first-quarter revenue of $1.20 billion, a year-over-year increase of 16%. Advertising revenue was $1.11 billion in the first quarter, up 23% year-over-year.
One of the key items investors watch with social media platforms is the number of active users it has. Twitter reported 229 million monetizable daily active users in the first quarter, which is a 15.9% year-over-year increase.
Monetizable daily active users came in at 39.6 million in the U.S., up 6.4% year-over-year. International monetizable daily active users hit 189.4 million, up 18.1%.
Here is a look at the monetizable daily active users over the last five quarters:
- Q1 2021: 37.2 million U.S., 197.6 million global
- Q2 2021: 36.2 million U.S., 204.0 million global
- Q3 2021: 36.9 million U.S., 209.3 million global
- Q4 2021: 37.5 million U.S., 214.7 million global
- Q1 2022: 39.6 million U.S., 229.0 million global
The first-quarter total was the largest increase in both percentage and overall users on a global basis of the last five quarters.
Related Link: Some Celebrities Leaving Twitter, Other Notable Names Returning To The Platform: What Investors Should Know
Why It’s Important: On April 25, Twitter accepted a buyout offer from Tesla Inc (NASDAQ:TSLA) CEO Elon Musk. Musk, who is the world’s richest person, is paying $54.20 per share to take the company private. The deal is expected to close later this year.
News of Musk’s buyout of Twitter has been met with mixed feedback from investors and users. Some celebrities and big names have rejoined the social media platform, while others are leaving or threatening to leave.
While it appears unlikely another bidder will come in to try and acquire Twitter, user figures are still important to compare against other social media platforms and for advertisers to see the power of the platform.
A new report says Twitter has already reached out to several advertising agencies to say that Musk acquiring the platform won’t change things.
Some advertisers are worried that the focus on free speech could ease restrictions on certain hate speech, which could force advertisers to spend their dollars on platforms like Meta Platforms (NASDAQ:FB), Snap Inc (NYSE:SNAP), Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) or traditional media sources instead.
TWTR Price Action: Twitter shares are down 1% to $48.28 on Thursday. Shares have traded between $31.30 and $73.34 over the last 52 weeks.
