The Clap
Twitter performed worse than expected as they reported Q2 earnings.
The Deets
Twitter saw advertising revenue rise just 2% to $1.08 billion, lower than the expected $1.22 billion. Total second-quarter revenue was $1.18 billion, while the expected was $1.32 billion.
Twitter reported a $270 million net loss versus a profit of $65.6 million the year before.
Monetizable daily active users, a metric that measures users who see advertising on Twitter, grew 16% to 237.8 million, but was lower than the expected 238.7 million.
How did the earnings affect Twitter?
Twitter shares opened flat at $38.90 on Friday. Twitter’s stock is dependent on the result of the trial. The deal uncertainty between Musk and Twitter has worried Twitter’s investors.
Twitter-Musk feud caused too much damage to Twitter 🤕
