Posted on 04/28/2022 4:27:07 PM PDT by NoLibZone
Twitter on Thursday reported mixed first-quarter earnings, missing Wall Street expectations on revenue but adding users. It also admitted to over-counting some monetizable daily active users between Q1 2019 and Q4 2021.
Why it matters: Analysts were expecting the tech giant to post weak results, given that its board finalized a takeover deal with Elon Musk this week. This could be Twitter's last earnings report as a publicly traded company.
Details: The company brought in $1.2 billion in revenue last quarter, just shy of analyst estimates. Other ad-supported tech giants also missed Q1 revenue expectations in response to macroeconomic headwinds impacting the ad market.
Twitter also said it accidentally over-counted the number of monetizable daily active users because of a feature that allowed people to link multiple separate accounts together in order to conveniently switch between them. It counted those two separate accounts as two users for more than three years.
It is a private company now, there is no board anymore.
They had to make up for all the people kicked off 🤪
So a publicly traded company made material misrepresentations to shareholders for years, is that what they are now saying? How is this not criminal?
The AGs in NY and NYC were attempting to pin crimes of misrepresenting property valuations on Trump, which were not true, and here we have self-admitted material misrepresentations?
The board that had been running Twitter for years lied to the SEC and stockholders.
Also they still have a board the deal has not been finalized
Stock fraud?
“accidentally over-counted”??!!
you WHAT?!
So, they cooked the books!
Wonder what else they’re hiding?
I would suspect there were contingencies in Musk’s offer to buy.
No private yet. I assume Musk can cancel the deal if Twitter is a fraud.
I’d be fine if twitter went dark right now. That would be hilarious.
That is outright securities fraud. But will the Biteme SEC do anything about it?
Wouldn’t the advertisers have a case?
Deal has not completed yet. Board is still intact
205 millIon BOTS can’t believe they’ve been fired
Isn’t that ILLEGAL???
Is someone trying to get Musk to think he got taken, so that he’ll back out?
they’re admitting it now as an FU to Musk (not that he didn’t already know) and counting on the Biden Admin not to prosecute.
“Twitter also said it accidentally over-counted the number of monetizable daily active users”.
Did The Twits disclose this to Musk before an agreement was signed?
Happy to report that I was one of those over counts. I have a personal account under my own name, a burner account for shitposting and I manage my company’s account as well. All three are linked on the app which means Twitter thinks I’m three people. Hope Elon live-streams the coming mass purge of the censurious little leftists working there, and deletes their Twitter accounts as well.
Six months is an eternity, the Deep State will do whatever it takes to prevent Musk from taking control of Twitter.
Musk's takeover has been far too easy, there must be a plan to either destroy Musk, or Twitter, or both under way ...
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