In terms of revenue, Twitter closed with $1.18 billion, which represents a 1% drop on an annual basis.
Twitter announced this Friday (22) that it ended the second half with a net loss of US$ 270 million. In the same period last year, the chain had made a profit of $66 million.
According to the company, the result reflects the more difficult macroeconomic environment that impacted investments in advertising and also the uncertainty generated from Elon Musk’s proposal to buy the platform.
In terms of revenue, Twitter closed at $1.18 billion, down 1% year-on-year. Of that total, advertising generated 1.08 billion, up 2%, and subscriptions and other sources of revenue saw the numbers dwindle, down 27%, totaling $101 million.
Because of the open process for acquisition by the billionaire, the platform canceled the presentation to investors, as well as the disclosure of the letter and guidance.
After statements and threats to withdraw from the purchase deal over the past few months, Musk took the cards off the table in early July, alleging that the company had not provided the requested information about the number of fake and spam accounts.
The decision was accompanied by a lawsuit by Twitter against the businessman to force him to comply with the transaction. The trial is scheduled for October.
