Twitter says Elon Musk 'uncertainty' impacted results as earnings miss expectations

Twitter TWTR, -0.20% missed revenue expectations Friday with its latest results while swinging to a loss. Its shares were down about 2% in premarket trading.

Twitter’s revenue for the latest quarter came it at $1.18 billion, nearly flat with the $1.19 billion it reported a year earlier, while analysts surveyed by FactSet were expecting $1.32 billion. The company said in a release that the results reflected “advertising industry headwinds associated with the macroenvironment as well as uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk.

On an adjusted basis, the company posted an 8-cent loss per share. It recorded 20 cents in adjusted earnings per share a year earlier. The FactSet consensus for the most recent quarter was for 14 cents in adjusted EPS.

In 9 years the stock has done nothing. $45 to $39. No wonder there are and were calls for a shake up.

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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. 🥃
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