Twitter posted a slump in revenue and a hefty loss last quarter. Revenues fell 1% year over year to $1.18 billion. Analysts had expected $1.3 billion. Twitter justified the decline with the weakening of the online advertising market – and also with the uncertainty surrounding billionaire Elon Musk’s plan to take over the company. Musk announced in April that he wanted to buy Twitter for $44 billion. In early July, he announced that he would scrap the deal. Twitter wants to oblige him in court to complete the acquisition at the agreed price of $54.20 per share. Twitter ended the second quarter with a loss of $270 million, down from almost $66 million a year earlier. The number of daily active users that Twitter can reach with its advertising because they use the in-house app or the web version rose from 229 million to 237.8 million in three months. In the first quarter, the service gained a good 14 million users.
Takeover – Twitter: Musk is to blame – Economy
