Ripples
Elon Musk has been blamed for Twitter’s dwindling revenue after it reported $1.18 billion in turnover for Q2 2022 financial statements, as the company and the billionaire battle over the $44 billion acquisition deal.
Twitter generated less revenue compared to the $1.19 billion grossed in Q2 2021. It also posted $270 million net loss, against the $66 million profit recorded during the corresponding period of Q2 2021.
The social media company cited Musk, ad industry problems and the economic environment as reasons for the poor revenue report of the second quarter, with emphasis on the billionaire.
Twitter explained “uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk” is weighing on revenue source such as ad, as advertisers are unsure of Musk’s ad policy if he eventually acquire the company…
