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Thndr Claps » U.S. Claps » NYSE 🔔 » Twitter-Musk feud caused too much damage to Twitter 🤕

Twitter-Musk feud caused too much damage to Twitter 🤕

by Omar El Shorafa
July 23, 2022
Twitter, Earnings, NYSE

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.

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