Musk Effect? Twitter Revenue, Daily Users Increase 16%

San Francisco: Days after agreeing to be sold to Elon Musk, Twitter on Thursday posted quarterly earnings of $513 million.

The social media company informed that revenue rose 16% to $1.2 billion in the January-March period compared to the same period last year, reported AP.

The other encouraging news for the company is that Twitter reported an average 229 million daily active users during the quarter, up 16% from last year.

Musk will be buying Twitter for $44 billion.

The deal is expected to be firmed up later this year.

Breaking from convention, Twitter cancelled the conference call with executives and industry analysts on the day quarterly results are announced.

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