Twitter offered first-quarter results before the market open Thursday that missed on revenue, in what could be its last earnings report as a public company. Twitter stock climbed as user growth beat views.
The company said adjusted earnings were 61 cents a share, but it was not comparable to the year-ago period because Twitter included a gain for its sale of MoPub. In the year-ago period, Twitter reported adjusted earnings of 8 cents.
Twitter said revenue was $1.2 billion, below estimates of $1.23 billion. Revenue climbed 16% from the year-ago period.
"Net income of $513 million includes a pre-tax gain of $970 million from the sale of MoPub for $1.05 billion and income taxes related to the gain of $331 million," Twitter said in the earnings release.
Twitter Stock: User Numbers Up 16%
But the company reported daily active users of 229 million, up 16% from the year-ago quarter and beating estimates of 226.9 million.
Twitter stock climbed 1% to close at 49.11 on the stock market today.
Twitter has accepted a buyout offer from Tesla Chief Executive Elon Musk. Musk plans to take the company private.
The company's usual quarterly earnings conference call with analysts was canceled due to its $44 billion acquisition by Musk. Because of that deal, Twitter also said it's withdrawing all previously provided goals and forecasts.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
