Twitter Earnings FallTwitter’s revenue declined during the April-June 2022 quarter, despite an increase in the number of users. Twitter’s April-June quarter earnings figures review performance during a month-long conversation with industrialist Elon Musk.
How much was the loss?
This figure is worse than the estimates of industry analysts. According to a FactSet survey, the social media company lost $270 million or eight percent per share in the April-June 2022 quarter. While ‘Wall Street’ expected a 14 percent increase in the company’s stock.
increase in the number of users
Inflation has driven down ad spend and had a huge impact on Twitter’s quarterly revenue. This reduced the company’s income by one percent to $1.18 billion. At the same time, the number of daily active users of the company has increased by 16.6 percent to 237.8 million compared to the same period a year ago. (input language)