11/4/2022, 4:13 PM (Source: TeleTrader)
more TeleTrader news

Musk: Twitter's massive revenue drop due to activist groups

New Twitter CEO and richest man in the world, Elon Musk, said Friday that the company had seen a dramatic drop in revenue due to activist groups pushing advertisers.

"Twitter has had a massive drop in revenue due to activist groups pressuring advertisers, even though nothing has changed with content moderation, and we did everything we could to appease the activists. Extremely messed up! They're trying to destroy free speech in America," Musk tweeted.

According to the company's last earnings report before being delisted, revenue remained mostly unchanged in the second quarter of 2022 at $1.18 billion, with a net loss of $270 million, or a diluted loss per share of $0.35.

Baha Breaking News (BBN) / JG