Twitter admits overstating audience figures for 3 years
Twitter admitted to overstating its audience figures by nearly 2mn users for almost three years, as it reported its first quarterly results since the social media company agreed a $44bn buyout from Tesla chief Elon Musk.
It is the second time that Twitter has miscalculated its user numbers, after discovering in 2017 that a similar error had gone unnoticed for three years.
The latest mistake was revealed just days after Twitter agreed a leveraged buyout by Musk. The entrepreneur has hinted at plans to reshape Twitter’s business model, which currently relies on advertising for more than 90 per cent of its revenues.