Twitter Inc. posted second-quarter revenue and earnings per share Friday that fell well short of Wall Street’s expectations despite a spike in average daily users amid Elon Musk’s efforts to buy (and later back out of acquiring) the social media site.
The San Francisco company said it took in $1.18 billion in revenue for the three months ended June 30, down 1% from the $1.19 billion in Q2 2021. The total was 10.6% below the $1.32 billion forecast by Wall Street analysts, according to Yahoo Finance.
Twitter posted a net loss of $270 million, or 35 cents per share, reversing a profit of $65.6