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    Twitter revenue falls in weakening digital ad market

    The company reported second-quarter revenue of $1.18 billion, compared with $1.19 billion a year earlier.

    Reuters
    July 22, 2022 / 17:43 IST
    Image: Reuters

    Twitter Inc on Friday posted a surprise fall in revenue amid fierce competition from Apple and TikTok in a weakening advertising market, as the company wages a legal battle with Elon Musk over his $44 billion buyout deal.

    The company reported second-quarter revenue of $1.18 billion, compared with $1.19 billion a year earlier.

    Analysts were expecting $1.32 billion, according to Refinitiv IBES data.

    The results come after Snapchat parent Snap Inc posted weak results and declined to make a forecast, citing ”incredibly challenging” conditions as advertisers cut back on spending.

    Reuters
    first published: Jul 22, 2022 05:43 pm

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