Twitter Blames Revenue Drop on the $44 Billion Takeover Fight With Elon Musk

The company reported a loss of $270 million compared with year-ago earnings of $65.6 million

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In its Q2 earnings report this morning, Twitter reported a decline in its revenue of $1.18 billion, down from $1.19 billion in 2021 earnings, blaming it on the ongoing Elon Musk acquisition saga, the company said.

Twitter did not host an earnings call this time given the pending $44 billion Musk acquisition and cited “advertising industry headwinds associated with the macroenvironment as well as uncertainty related to the pending acquisition of Twitter by Elon Musk,” in its statement.

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