Twitter reports revenue dip, loss – The Arkansas Democrat-Gazette

The Twitter splash page is seen on a digital device, Monday, April 25, 2022, in San Diego. Twitter reported a quarterly loss Friday, July 22, as revenue slipped even as user numbers climbed. (AP Photo/Gregory Bull) LONDON — Twitter reported a quarterly loss Friday and declining revenue caught Wall Street off guard with the number of people using the platform on the rise.The latest quarterly earnings figures offered a glimpse into how the social media platform has performed during a monthslong negotiation with billionaire and Tesla Chief Executive Officer Elon Musk after he said that he would buy the company, and then changed his mind.It was worse than industry analysts had anticipated.The company lost $270 million in the April-June period, or 8 cents per share. Wall Street was expecting a per-share profit of 14 cents, according to a poll by FactSet.Inflation has crimped advertising spending and that was a huge drag on Twitter’s quarterly revenue, which slid 1% to $1.18 billion. The company also cited “uncertainty” over the acquisition by Musk.Twitter is holding no calls with analysts and will not publish a letter to shareholders, as is the norm, because of the pending acquisition.The underlying numbers at Twitter, however, were…
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