In its earnings report for Q1 2022, Twitter today revealed an error that resulted in the platform providing incorrect daily active user numbers for three years straight, from Q1 2019 through Q4 2021, The Verge is reporting.
Twitter overcounted nearly 1.9 million users each quarter, a mistake it had done back in 2017 as well. The error was apparently due to the company inadvertently counting multiple accounts in use by a single user, even if they weren’t all active.
In its latest earnings release, Twitter has reported 229 million daily users, a figure up more than 10 million from last quarter’s inflated number. The social media platform has reported an operating loss of $128 million on revenue of $1.2 billion, with revenue seeing a 16% increase YoY.
“In light of the proposed transaction with Mr. Musk, as is customary during the pendency of an
acquisition, Twitter will not be hosting a conference call, issuing a shareholder letter, or providing financial guidance in conjunction with its first-quarter 2022 earnings release. For further detail and discussion of our financial performance please refer to our upcoming quarterly report on Form 10-Q for the quarter ended March 31, 2022.”
Once Elon Musk completes his acquisition of Twitter, it will become a privately owned company making today’s release the platform’s last public earnings report.
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“inadvertently”. Right. And it’s just a coincidence that this aligns with usage numbers dropping so badly that they simply stopped reporting on monthly user numbers. And it’s a coincidence that by inflating their numbers it help drive their ad sales.
They’ve been circling the drain for a long time.
Already becoming more open at least
Just wait until the democrats ask/tell the big platforms to block the app/service. The big cloud hosts, Amazon and MS would fall in line pretty quickly. So would Google and Apple.
Maybe I’m missing something but how would that stop people from going onto the twitter website?
If it is only the app that gets banned, many users will transition to web but not all. It will hurt.
But, we’ve seen the Silicon Valley companies, and others, work in a concerted effort to block outsiders before (parlour?).
If Bezos blocks them from cloud services (along with Google and MS) and Google and Apple block the apps and MasterCard/visa and PayPal block their ability to take payments, it would be difficult to work around.
Tow the line. Bend the knee.
I see okay. Interesting.
This should be considered fraud