The Amid Musk Legal Battle, Twitter Misses Sales Estimate

The Amid Musk Legal Battle, Twitter Misses Sales Estimate

Twitter inc reported disappointments second quarter sales on Friday, another blow to a company that is already fighting a high profit legal battle with Elon Musk over the fate of the social network.

Revenue fell 1% quarter from a year earlier, it’s first annual decline since the middle of the pandemic in 2020, sale totally $1.18 Billion in the quarter, which fell short of $1.32 billion analyst estimated, The company said that “Advertising industry headwinds associated with the microenvironment as well as uncertainty related to the pending acquisition of Twitter, were factors is the disappointments results.

Twitter added 8.8 millions new users during the quarter in line with analyst estimate.

It’s unclear how much Friday earnings report truly means to investors while the company fate remains in limbo, until two weeks ago, Twitter was set to sell the company to Lon Musk for $54.20 per share and making it financial report Little more than a formality as it is awaited for deal to close.

 

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