Twitter sales miss estimates amid Musk's takeover battle; revenue drops 1%

Twitter's analysis show a disappointing sales outcome owing to a raging takeover battle with Elon Musk, with both sides preparing for trial

Twitter Inc. reported disappointing second-quarter sales on Friday, another blow to a company that is already fighting a high-profile legal battle with Elon Musk over the fate of the social network.
 

Revenue fell 1% in the quarter from a year earlier, its first annual decline since the middle of the pandemic in 2020. Sales totaled $1.18 billion in the quarter, which fell short of the $1.32 billion analysts estimated. The company said “advertising industry headwinds associated with the macroenvironment as well as uncertainty related to the pending acquisition of Twitter” were factors in the disappointing results.
 

Twitter added 8.8 million