Twitter has 9 million more new users amidst Muskgate
I'm calling it Muskgate. Or Elon-gate. Whatever.
Amid Elon's, for a lack of better word, stupidity, Twitter just shared its latest performance updated which sees an increase in active users, but a year-on-year revenue decrease attributed to challenging market conditions, and Elon himself.
Twitter added 9 million new daily active users for the quarter, which brings it to 238 million total daily active users. Not massive, but still quite large innit?
Data above shows that most of the new growth has come from international markets, with "only" 2 million new users in the US. Nevertheless, these past three quarters saw 5 million more users from US, after a growth stagnation for almost two years. Not bad.
Meanwhile, Twitter bought in $1.18 billion in revenues last quarter, or a decrease of 1% YoY. This decline reflects "advertising industry headwinds associated with the macroenvironment", which is practically what all businesses are feeling right now.
But Twitter also takes exception to Elon himself, citing 'uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk' as another factor in its reduced revenue performance.
Twitter's legal team says:
Chime in.
Amid Elon's, for a lack of better word, stupidity, Twitter just shared its latest performance updated which sees an increase in active users, but a year-on-year revenue decrease attributed to challenging market conditions, and Elon himself.
Twitter added 9 million new daily active users for the quarter, which brings it to 238 million total daily active users. Not massive, but still quite large innit?
Data above shows that most of the new growth has come from international markets, with "only" 2 million new users in the US. Nevertheless, these past three quarters saw 5 million more users from US, after a growth stagnation for almost two years. Not bad.
Meanwhile, Twitter bought in $1.18 billion in revenues last quarter, or a decrease of 1% YoY. This decline reflects "advertising industry headwinds associated with the macroenvironment", which is practically what all businesses are feeling right now.
But Twitter also takes exception to Elon himself, citing 'uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk' as another factor in its reduced revenue performance.
Twitter's legal team says:
| "Monetary damages [in the event of Musk exiting the deal], even if available, would not be an adequate remedy in the event that the parties do not perform the provisions of this Agreement." |
