On Friday, Twitter as an online ad play also posted quarterly advertising revenue at $1.076 billion, just up from a year-earlier $1.053 billion. The steady digital ad sales followed Snap disappointing investors with slowing demand for its online ad platform amid concerns for inflation and a recession risk.
Meanwhile, Twitter’s key subscriber metric, monetizable daily active users, hit 237.8 million in the quarter, up from 229 million in the first quarter. That beat a 236 million mDAU estimate from Zack Consensus. Amid a potential sale that will leave Twitter as a private company, the social media firm chose not to hold a post-earnings analyst call to discuss its results Thursday. That’s as Wall Street focuses on the legal battle and ongoing drama Twitter faces from Musk, and its impact on the social media company’s volatile share price.
Twitter in its latest financial results reiterated that the Musk deal still stands and needs to be completed. “
This could have been the problem all along. 🥃