Shutdown for Twitter. After seven consecutive quarters in the green, the social network’s revenues fell 1% in April-June. The California-based company posted revenue of $1.18 billion on Friday, while analyst consensus had been betting on $1.32 billion, or a 10% increase… And net advertising revenue was up just 2%. Another disappointment, the social network posted a net loss of $270 million, compared to a profit of $65.6 million a year ago.
The announcement of these results was especially anticipated, as they cover the beginning of the series with twists and turns between the social network and Elon Musk. On April 5, the billionaire, to everyone’s surprise, became the first shareholder of Twitter. At the end of the month, the two parties signed a purchase agreement of 44 billion dollars. Since then, the entrepreneur wants to cancel the deal…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.