Twitter reported a quarterly loss Friday as revenue slipped even as user numbers climbed.
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. – 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.
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. Those numbers are particularly impressive in the wake of a quarterly earnings report late Thursday from the social media company Snap.
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