Twitter, in Musk fight, posts $270M quarterly loss

By KELVIN CHAN
AP Business Writer

LONDON (AP) — Twitter reported a quarterly loss Friday as revenue slipped even as user numbers climbed. The social media company’s latest quarterly earnings figures offered a glimpse into how the social media business has performed during a months-long negotiation with billionaire Tesla CEO Elon Musk over whether he will take over the company. Twitter lost $270 million in the April-June period after revenue slipped 1% to $1.18 billion, reflecting ad industry headwinds and uncertainty” over Musk’s acquisition bid.. The number of daily active users rose 16.6% to 237.8 million compared with the same period a year before. Twitter chalked up the gains to “ongoing product improvements and global conversation around current events.”