The platform said in an earnings report that it accidentally inflated data on the number of daily users for three years in a row. It is also still waiting for the $44 billion deal with Musk.
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Twitter revealed Thursday that it has been inadvertently overstating the number of daily users on the platform for the past three years due to a counting error.
The social media company unveiled the information during its latest earnings report published Thursday, in which he added that he is still awaiting payment from Elon Musk. According to the report, Twitter recorded significant growth in revenue and user volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. during the first quarter of 2022.
Specifically, revenue increased 16% year-over-year to $1.2 billion. Net revenue for the quarter was $513 million. Meanwhile, daily active users (mDAU) increased 16% to 229 million during the same period; however, it revealed that it had miscalculated and misreported this metric.
Twitter inflated its numbers -unintentionally-.
The company apparently would have exaggerated its number of users by 1% to 2% between 2019 and 2021 . The error was due to the fact that Twitter inadvertently counted multiple accounts as active when they were all linked to a single user, even if they were not all in use, as collected byThe Verge. The report published by Twitter which was quoted by The Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. , points out:
“In March 2019, we launched a feature that allowed people to link multiple separate accounts so they could conveniently switch between them. At that time a mistake was made, so actions taken through the main account an account is essentially a whose purpose is to track the financial activities of a specific asset/ resulted in all linked accounts being counted as mDAU. This resulted in an overstatement of mDAU from Q1 19 to Q4 21.”
It seems that this is not the first time that Twitter makes a similar mistake. As he recalledThe Verge,en 2017, la plataforma also dijo que se había percatado of an exaggeration in the numbers of its users by a range of between 1 and 2 million.
Public knowledge about the latest slip comes in the midst of a major acquisition deal. As reported by DiarioBitcoin the board of directors of Twitter earlier this week accepted billionaire Elon Musk’s offer to buy the platform. for an amount of USD $44 billion, or the equivalent of USD 54.20 per share.
Although, by the time the latest earnings report was released, the deal had not yet gone through. Twitter had been expected to hold a call with investors to discuss the company’s latest earnings report; however, that event was cancelled ” in light of the pending transaction “ he said Twitter in a statement.
Expectations for Musk’s arrival
El acuerdo con Musk, que dará al empresario CEO de Tesla y SpaceX total control of the social networking company, has generated mixed opinions. Within the company, some employees have expressed concerns about the uncertain future Twitter is facing, as reported byThe Verge in an interview.
In particular, the billionaire has given vague statements about his agenda for Twitter, highlighting a handful of possible courses of action including “ improve the product with new features “, make its algorithms open source, crack down on spam bots and verify all users. Musk has also said he wants to “ unlock “the potential of Twitter to become the “ platform a place to buy, sell and store cryptocurrency for freedom of expression worldwide”.
La noticia también ha generado revuelo y especulación dentro de la comunidad de entusiastas criptográficos; en particular, dentro del espacio de los seguidores de Dogecoin (DOGE) and other memecoins marbles, which after the agreement experienced a price spike . The new owner, who is a self-confessed fan of Dogecoin has suggested that such a cryptocurrency could be a payment option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. for Twitter Blue the platform’s subscription service.
Por otro lado, su enfoque para abordar los bots automated software that can carry out tasks such as cryptocurrency trades. who spam and promote cryptocurrency scams on Twitter, has also been received positively by the community on Twitter. “ If I had a Dogecoin for every cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. scam a scheme that is designed to dupe people out of cash or crypto. I saw, I’d have a hundred billion Dogecoin. “Musk said in a recent TED Talk in which he addressed his concern over the bots and scams in Twitter .
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Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash
