:Twitter Inc on Friday blamed uncertainties related to its $44 billion acquisition by Elon Musk and a weakening digital ad market for a surprise fall in quarterly revenue.
It reported second-quarter revenue of $1.18 billion, compared with $1.19 billion a year earlier. Analysts were expecting $1.32 billion, according to Refinitiv IBES data.The company's results come after Snapchat parent Snap Inc posted weak results and declined to make a forecast, citing"incredibly challenging" conditions as advertisers cut back on spending.
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