Jul 24, 2022
Twitter adds more users but makes less money, blames Elon Musk
Posted by Kelvin Dafiaghor in categories: economics, Elon Musk
What just happened? In addition to suing Elon Musk, Twitter is also blaming the world’s richest man for its falling revenue. The platform saw its number of users increase in the second quarter of the year, but that hasn’t translated to a healthier bottom line, something it partly blames on the disruption caused by Musk bidding for the company before walking away.
Twitter’s Q2 2022 results show its second-quarter revenue was $1.18 billion, representing both a quarterly and yearly decline, albeit only slightly. However, its average monetizable daily active users (mDAUs) was up 16.6% compared to Q2 2021, reaching 237.8 million globally.
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