Twitter Sales Miss Estimates Amid Takeover Battle With Musk

By Kurt Wagner

22 Jul 2022 · 2 min read

Editor's Note

The Twitter-Musk saga is continuing to unravel. Bloomberg reports on how the chronicles have impacted Twitters second-quarter sales. Read more, here.

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

Revenue fell 1% in the quarter from a year earlier, its first annual decline since the middle of the pandemic in 2020. Sales totaled $1.18 billion in the quarter, which fell short of the $1.32 billion analysts estimated. The company said "advertising industry headwinds associated with the macroenvironment as well as uncertainty related to the pending acquisition of Twitter" were factors in the disappointing results.

Sign in to informed

  • Curated articles from premium publishers, ad-free
  • Concise Daily Briefs with quick-read summaries
  • Read, listen, save for later, or enjoy offline
  • Enjoy personalized content