Twitter challenges Elon Musk to a duel to justify its growth failure

Twitter headquarters in San Francisco, California. AMY OSBORN/AFP

A victim of advertiser caution and the economy, his revenue fell 1%.

Disable for Twitter. After seven consecutive quarters in the green, the social network’s revenue recorded a 1% decline from April to June. The California-based company posted a turnover of $1.18 billion on Friday, while analysts’ consensus was more like $1.32 billion, or 10% growth… And pure advertising revenue didn’t increase just 2%. Another disappointment: The social network recorded a net loss of $270 million, while a year earlier it recorded a profit of $65.6 million.

The publication of these results was especially anticipated as they cover the beginning of a soap opera with twists and turns between the social network and Elon Musk. On April 5, the billionaire, to everyone’s surprise, became the first shareholder of Twitter. At the end of the month, the parties signed a takeover agreement for $44 billion. Since then, the entrepreneur wants to cancel the deal…

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