Published , by TJ Denzer
Published , by TJ Denzer
Twitter is in a very interesting place right now as the company faces a buyout from Tesla, SpaceX, and Boring Company CEO Elon Musk, but for the previous fiscal quarter, it’s still business as usual and Twitter just reported its latest quarterly earnings results. The company fell short against Wall Street revenue expectations, but came out ahead on earnings-per-share (EPS). Nonetheless, the stock price saw a bit of a dip coming into today’s market opening on further information revealed in the results.
Twitter released its Q1 2022 earnings results in a press release its Investor Relations website on April 28, 2022. According to the results, Twitter put up around $1.20 billion USD in revenue and reported $0.61 per diluted share on the press release. This was with the sale of MoPub which, when removed, leaves the EPS around $0.04 according to CNBC. In terms of EPS, the company was expected to put up $0.01 per share, so it came out ahead there, even if it didn’t quite reach the whisper number expectation of $0.05 per share. Meanwhile, revenue was a miss for the company in which the expectation on the quarter was $1.22 billion.
Twitter’s earnings results went well beyond hits and misses on expectations for revenue and EPS. The company also lost money from operations, totaling out to around a $128 million net loss. The Q1 2022 reporting also addressed an incorrect reporting of mDAUs (Daily Active Users) from Q1 2019 to Q4 2021, which was only caught and corrected recently. There’s also the looming buyout from Elon Musk which has been a major story over the last couple of weeks. Twitter confirmed that because of the deal, there would be no conference call or investor Q&A to go with its Q1 2022 reporting.
Twitter’s (TWTR) stock took a dip on today’s earnings results, as shared by Yahoo Finance. The revenue miss was notable, but Musk’s deal and the incorrect reporting also likely affected the dip. If the Musk deal goes through and the company goes private, it remains to be seen how Twitter’s future fiscal quarter reporting will shake out. Stay tuned for further updates here at Shacknews on the matter.