Twitter saw its profit, revenue and the number of users increase in the first quarter of this year, according to its financial results statement released on Thursday

Its revenue totaled at $1.2 billion from January to March, rising 16% year-on-year, or 19% on a constant currency basis, "reflecting headwinds associated with the war in Ukraine", the social media company said .

San Francisco based company had generated a net income of $513 million or $0.61 earnings per share in the first three months of 2022, up from $68 million or $0.08 a share in the same period of last year.

The number of average daily active user on the platform increased 15.9% annually to 229 million in the first quarter.

"Given the pending acquisition of Twitter by Elon Musk, we will not be providing any forward looking guidance, and are withdrawing all previously provided goals and outlook," it added.

On April 25, Twitter announced that it entered into a definitive agreement to be sold to Elon Musk for $44 billion.

Upon completion of the transaction, Twitter will become a privately held company .