Twitter Posts $270 Million Loss In First Earnings Report Since Elon Musk ‘Terminated’ $44 Billion Takeover Deal

Social media giant Twitter posted a worse-than-expected loss Friday morning in its first earnings report since billionaire Elon Musk backed out on a deal to buy the company, fueled in part by the massive uncertainty around the firm’s fate as it embarks on a potentially lengthy legal battle with the world’s richest person.SOPA Images/LightRocket via Getty Imagesrevenue of $1.2 billion in the second quarter, falling short of average analyst estimates calling for $1.

The company also reported a worse-than-expected loss of $270 million, or 35 cents per share—compared to expectations for a loss of 7 cents per share and a profit of $66 million in the second quarter last year. In its earnings release, Twitter blamed the disappointing performance on advertising industry headwinds associated with broader economic concerns and uncertainty around Musk’s deal to buy Twitter and take it private.

The firm says it’s not hosting an earnings call, issuing a shareholder letter or sharing financial projections with the deal still in flux. Twitter also disclosed it spent about $33 million related to the acquisition in the second quarter and $19 million on costs associated with layoffs, including someTwitter stock futures were down 2% to about $38.50 within minutes of the announcement; shares have plunged more than 40% over the past year, while the S&P 500 has fallen about 16%.

But if you calculate Musk’s $1B fine, that is still a profit! 🤣🤣🤣

270 million loss for an app that let you post nothing but 140 character messages.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Twitter says Elon Musk 'uncertainty' impacted results as earnings miss expectationsAfter Snap Inc. issued a grim warning on the state of the advertising landscape, Twitter Inc. fell short with its own results for the latest quarter. In 9 years the stock has done nothing. $45 to $39. No wonder there are and were calls for a shake up.
Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »

Twitter Cites Elon Musk “Uncertainty,” Ad “Headwinds” as Quarterly Earnings Fall ShortThe social media giant grows daily users to 237.8 million. This could have been the problem all along. 🥃
Fonte: THR - 🏆 411. / 53 Consulte Mais informação »

Twitter says 'uncertainty' with Elon Musk is hurting its businessTwitter reports quarterly revenue of $1.18 billion, a decline of 1% from the prior year which it attributes in part to 'uncertainty' related to battle with Elon Musk As much as 50% of Twitter accounts could be bots. Wouldn’t walking away from Musk instead of the lawsuits end the uncertainty, & restore advertising sales then? 🤔 The company's shares , which have dropped almost 7.4 percent since the start of the year , were trading at $38.2 each at 4.10pm UAE time .
Fonte: cnni - 🏆 326. / 59 Consulte Mais informação »

Twitter Misses Earnings Expectations, Blames Elon MuskTwitter reported earnings for the second quarter on Friday missing analyst estimates on revenue, earnings, and user growth. The company blamed ad industry headwinds and “uncertainty” linked to Elon Musk and his revoked buyout offer. What about Ukraine? Or, it could be the bots. Advertisers just don't believe Twitter's numbers any more. Thanks Obama
Fonte: BreitbartNews - 🏆 610. / 51 Consulte Mais informação »