The American social networking site Twitter performed below expectations in the second quarter. This is evident from figures released by the company.
Twitter had revenue of $1.18 billion in the second quarter, while analysts had expected $1.32 billion in sales. In addition, 8.8 million new users were added, in line with expectations.
Twitter refers to macroeconomic conditions that weigh on the advertising industry and to the uncertainty that has arisen around the company’s acquisition by Elon Musk. Twitter and Musk will face each other in a courtroom after the failed takeover of the messaging service.
The billionaire abandons the takeover of the messaging service after a discussion about the number of fake accounts.
Falling advertising revenues are currently affecting several social media outlets. For example, snap, Snapchat’s parent company, also had to announce disappointing quarterly figures earlier.