Twitter Inc incurred losses estimated at $270 million, and Twitter Inc.’s revenue declined by 1% on an annual basis in the second quarter of this year to $1.18 billion, compared to $1.19 billion recorded in the corresponding quarter last year.
Forbes Middle East reported the first financial data issued by Twitter after billionaire Elon Musk withdrew from the $44 billion acquisition of the platform.
Twitter blamed the decline in its financial performance during the past quarter, on what it called “the uncertainty” about the acquisition deal, as well as the negative impact on the advertising industry.
Earlier, an American court responded to Twitter’s request to prosecute Elon Musk, as it ruled for a 5-day trial that is scheduled to begin its first session next October, and that the court will consider whether Musk should complete the Twitter purchase deal. ” or not.
Earlier, the legal team of the billionaire and businessman, Elon Musk, demanded that his trial be postponed for delaying the purchase of the Twitter platform until next year.
Musk’s lawyers said the case should go to trial no later than February 13, 2023, alleging that Twitter is pressing for an unreasonably fast trial, due to allegations that the CEO of Tesla and SpaceX He incorrectly ended his $44 billion bid to buy the social media platform, according to Bloomberg.
Twitter posts $270 million loss, revenue down 1%
