The influential social media firm is updating investors for the first time since Twitter accepted a $44 billion takeover offer from the Tesla mogul.

Social media giant Twitter reported revenue growth of 16 percent to $1.2 billion in the first quarter of 2022, marking the social media firm’s first update to investors since Tesla and SpaceX CEO Elon Musk struck an agreement to acquire the company for around $44 billion with a formal purchase offer.

Twitter on Thursday also posted quarterly advertising revenue up 23 percent to $1.1 billion. The company’s key subscriber metric, monetizable daily active users, hit 229 million in the quarter, up 16 percent from a year ago. That beat a 226.9 million mDAU estimate from StreetAccount.

Twitter had reached 217 million daily active users at the end of its recent fourth-quarter earnings and before that had reached 211 million DAUs in the third quarter of 2021. In its first quarter 2022 results, Twitter also reported net income at $513 million —  including a pretax gain of $970 million, from selling MoPub for $1.05 billion, and an income tax gain — compared to year-earlier net income of $68 million.