The company on Friday reported revenue of $1.18 billion for the three months ending in June, a decline of 1% from the prior year. Twitter attributed the sales drop in part to"uncertainty" related to Musk's pending acquisition, which he is currently fighting to get out of.
The company's monetizable daily active users grew more than 16% on a yearly basis to 237.8 million during the quarter. However, Twitter posted a net loss of $270 million during the quarter, up from a profit of $66 million during the same quarter in the prior year. Read MoreThe results come after a judge this week ruled that Twitter's case against Musk would go to trial in October, an early win for the social media company, which had requested expedited proceedings.
Well also because Twitter is 60% bots generating preprogrammed messaging via algorithms. People are catching on!
Twatter is done
Looks like Twitter needs to get a second job and pull itself up by the bootstraps. 🤷
Cannot stand Musk. But Twitter undeniably played stupid games when it even entertained his offer. They should consider a 1% decline their stupid prize.
A revenue drop of only 1% isn't significant for ANY company. Is this really news?
and profits?
Haha hid forbid the CEO can’t buy an island
Twitter I say cut him loose! We were better before him and we’ll be even better after him!
BS
Omg how will they live...
Not true. What’s hurting Twitter are its employees.
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 .
As much as 50% of Twitter accounts could be bots.
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