Twitter invokes the duel against Elon Musk to justify its growth failure

Twitter’s headquarters in San Francisco, California. AMY OSBORNE/AFP

Victims of the caution of advertisers and the economy, its revenues fell by 1%.

Shutdown for Twitter. After seven consecutive quarters in the green, the social network’s revenues recorded a decline of 1% for the April-June period. The Californian company published a turnover of 1.18 billion dollars on Friday, while the consensus of analysts was rather betting on 1.32 billion dollars, or a growth of 10%… And purely advertising revenues did not increased by only 2%. Another disappointment, the social network recorded a net loss of 270 million dollars, while it posted a profit of 65.6 million dollars a year earlier.

The publication of these results was particularly awaited, because they cover the beginning of the soap opera with twists between the social network and Elon Musk. On April 5, the billionaire became, to everyone’s surprise, the first shareholder of Twitter. At the end of the month, the two parties signed a takeover agreement for $44 billion. Since then, the entrepreneur wants to cancel the transaction…

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