Twitter revenue climbs to $1.2 billion, daily users grow 16%

Twitter reported quarterly earnings of $513 million on Thursday after agreeing to sell it to billionaire Elon Musk.

The social media company said Thursday that revenue for the three months ended March rose 16% from the year-ago period to $1.2 billion.

San Francisco-based Twitter reported an average of 229 million daily active users during the quarter, up 16% year over year.

Mr. Musk’s $44 billion deal to buy Twitter was announced earlier this week, and the deal is expected to close later this year.

Twitter has canceled the conference call with executives and industry analysts that normally accompanies the results, meaning there will be little further insight into the company’s current financial position.

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