Twitter reports higher first quarter profits amid Musk takeover bid

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Twitter reported higher-than-expected profits for the first quarter on Thursday, days after technology billionaire Elon Musk announced plans to take over the social media platform. Twitter’s bottom line reached $513.29 million, or $0.61 per share, according to the company’s announcement. This compares with $68.01 million, or $0.08 per share, for the first quarter last year. Twitter’s first quarter revenues increased by 15.4% to $1.20 billion, compared to $1.04 billion in the same period last year. At the start of the week, Twitter announced that the company has entered into a definitive agreem…

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