HomeNEWSTwitter blames Musk for low ad revenue • ENTER.CO

Twitter blames Musk for low ad revenue • ENTER.CO

Twitter’s quarterly revenue fell and the social network blamed Elon Musk for it. The company’s report estimated the increase in its income at only 2%, up to 1.08 billion dollars.

Wall Street’s expectations for this report were 1.22 billion dollars. For the same date of the previous year. Twitter recorded a figure of 1.19 billion dollars. The legal battle with Elon Musk over the failed purchase of 44 billion dollars and competition in the advertising sector have Twitter at a disadvantage. It is unlikely that you will be able to convince advertisers of the strength of your advertising business. At the opening of the stock market, shares of Twitter stood at $38.90. Since the beginning of the legal battle, the depreciation of Twitter shares on the stock market has been 35 cents per share. This adds up to a loss of value of 270 million dollars.

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An interesting fact that is also highly anticipated by investors has to do with the number of active users per day. In the case of the Twitter report, it indicates that this metric rose 16% to 237.8 million. However, it did not meet the expectations expected by analysts, which was 238.7 million. Regarding the number of spam and bots, Twitter said that they are less than 5% of users. An interesting fact is that this same value has been reported by the platform since 2013. Coincidentally, this value is the center of contention between Elon Musk and Twitter. It was the trigger for Musk to give up and withdraw the offer to buy the social network for 44 billion pesos. In the same report, Twitter announced that its expenses and costs increased by 33%, including some 33 million in expenses derived from the agreement with Elon Musk.

Image: Claudio Schwarz on Unsplash

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