Twitter revealed on Friday that it suffered a net loss of $270 million in the second quarter (Q2), partly as a result of uncertainties around Elon Musk's potential takeover of Twitter, which had a negative impact on its advertising business. According to Twitter's second-quarter earnings report, its second-quarter revenue was $1.18 billion, a 1% decrease year-over-year.
Ad revenue for Twitter reached $1.08 billion, while subscriptions and other revenue came in at $101 million. Average monetizable daily active use (mDAU) for the second quarter increased 16.6% from the second quarter of the previous year to 237.8 million. According to Twitter, the increase was caused by ongoing product updates and a global discussion about current events.
Twitter's one-share price is currently $39.52. In the last six months, there has been an increase of almost 12%. Over the past year, a 43 percent less expensive per share has been traded. According to the study, compared to its earnings the previous year, its share price has decreased by 35 cents per share.
It is worth mentioning that the number of daily active users on the dominant social media platform has increased to 237.8 million from 229 million in the first quarter. According to the article, Twitter has already withdrawn its goals and prospects and will no longer offer forecasts.
Source: https://coinpedia.org/news/twitter-suffers-270-million-loss-is-it-because-of-elon-musk/
You've got a free upvote from witness fuli.
Peace & Love!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit