Published , by Donovan Erskine
Published , by Donovan Erskine
Earlier this morning, Twitter (TWTR) released its Q1 2022 earnings report. It’s here that we got insight into the social media company’s financial performance over the latest period. While the latest round of earnings is certainly something to note, one of the more interesting details to come out of the report has to do with quarters’ past. In Twitter’s (TWTR) Q1 2022 earnings report, the company reveals that it reported inaccurate mDAU numbers from Q1 2019 to Q4 2021.
It’s on the second page of Twitter’s (TWTR) Q1 2022 earnings report that the company comes clean about some inaccurate mDAU (monetizable daily active user) numbers over the past couple of years, which it attributes to an error stemming from its account-linking feature.
In March of 2019, we launched a feature that allowed people to link multiple separate accounts together in order to conveniently switch between accounts. An error was made at that time, such that actions taken via the primary account resulted in all linked accounts being counted as mDAU. This resulted in an overstatement of mDAU from Q1’19 through Q4’21.
Twitter goes on to provide updated numbers that accurately depicts its mDAUs for the quarters in question. There was a difference of 1.4 million for Q4 2020, 1.6 million for Q1 2021, 1.7 million for Q2 2021, 1.7 million for Q3 2021, and 1.9 million for Q4 2021. It’s a pretty notable mishap, as the incorrect numbers could have had an influence on the stock and shareholder behavior.
Twitter’s (TWTR) Q1 2022 earnings report also showed that the company missed on revenue but beat EPS expectations. The platform also added users over the period. With the pending acquisition of the company by Elon Musk, it’s unclear what to expect from the future of Twitter financials, but you can expect to read about it right here on Shacknews.