- Twitter, Inc TWTR reported second-quarter revenue of $1.18 billion, which fell 1% year over year (+2% on a constant currency basis), missing the consensus estimate of $1.32 billion.
- Adjusted EPS loss of $(0.08) missed the consensus estimate of $0.14.
- Second quarter average profitable daily active usage (mDAU) was 237.8 million, up 16.6% year-over-year. Growth was driven by continuous product improvements and global conversation around current events.
- Average US mDAU was 41.5 million, up 14.7% YoY. The international average MDAU was 196.3 million, up 17% year over year.
- Twitter’s ad revenue was $1.08 billion (+2% year-over-year), and its subscription revenue was $101 million. (-27% Y/Y).
- Twitter said ad revenue was hurt by uncertainty surrounding the pending acquisition of Twitter by an affiliate of Elon Musk.
- Twitter believes that Mr. Musk’s purported termination is invalid and erroneous and the merger agreement remains in effect.
- On July 12, 2022, Twitter began a lawsuit against Mr. Musk and certain of its affiliates to cause them to specifically perform their obligations under the merger agreement and to complete the closing in accordance with the terms of the merger agreement.
- Twitter will not issue guidance or host a conference call due to the pending acquisition of Twitter by an affiliate of Elon Musk.
- Price Action: Shares of TWTR were down 2.2% at $38.65 in premarket trading on Friday.
- Photo Via Pixabay
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
