Twitter reported earnings for the second quarter on Friday missing analyst estimates on revenue, earnings, and user growth. The company blamed ad industry headwinds and “uncertainty” linked to Elon Musk and his revoked buyout offer.
that Twitter reported earnings for the second quarter on Friday that missed analyst expectations on earnings, revenue, and user growth. Twitter’s share price remained flat in Friday morning trading. CNBC posted the key numbers from the report:A loss of 8 cents, adjusted, vs expected earnings of 14 cents, according to a Refinitiv survey of analysts237.8 million vs 238.
Twitter stated that revenue slid by one percent year-over-year to $1.18 billion while Wall Street expected $1.32 billion, representing 10.5 percent growth year-over-year. Refinitiv noted that the latest earnings report marks Twitter’s biggest revenue miss so far, with results coming in 11 percent below estimates.
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