Todd Spangler NY Digital EditorMega-billionaire Elon Musk sold share of Tesla worth about $6.9 billion on Aug. 5, according to regulatory filings.
22.07.2022 - 15:39 / deadline.com
Twittter swung to a loss in the June quarter and revenue was below Wall Street forecasts of Wall Street, blaming advertising industry headwinds and uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk.
It swung to a $270 million loss from a $66 million profit the year earlier. Revenue of $1.18 billion was down 1% year-over-year (or up 2% on a constant currently basis that excludes foreign exchange fluctuations).
And Twitter clocked 237.8 million MAUs, or monetizable daily active users, up 17% from last year’s quarter but lower than anticipated as the company prepares to enter the ring with Elon Musk.
The June quarter numbers come two days after a judge set October for a five-day trail in a lawsuit the social media platform filed against the billionaire Tesla founder, who had agreed to buy it last spring but unilaterally terminated the deal early this month.
“Given the pending acquisition of Twitter by an affiliate of Elon Musk, we will not host an earnings conference call, issue a shareholder letter, or provide financial guidance in conjunction with our second quarter 2022 earnings release,” said Twitter, so there won’t be any color around that. It did include the boilerplate background on the transaction.
“As announced on April 25, 2022, we entered into a merger agreement, pursuant to which Twitter agreed to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash. Upon completion of thetransaction, Twitter will become a privately held company.
On July 8, 2022, representatives of Mr. Musk delivered a notice purporting to terminate the merger agreement. Twitter believes that Mr. Musk’s purported termination is invalid and wrongful, and the merger agreement remains in
Todd Spangler NY Digital EditorMega-billionaire Elon Musk sold share of Tesla worth about $6.9 billion on Aug. 5, according to regulatory filings.
of Tesla boss Elon Musk — the square-o-dynamic image is currently gaining traction amid the internet’s current optical illusion craze. [Warning: Spoilers Below]The visual jigsaw shows two cubes sitting in place; however, when the viewer clicks on the shapes, the screen flashes black and they appear to rotate like disco cubes.
Elon Musk’s dad Errol Musk did not hold back during an interview with Kyle and Jackie O’s radio show on KIIS FM.
Elon Musk‘s dad, Errol Musk, just did a 20 minute long interview where he appeared to shade his son multiple times.
Twitter has set a Sept. 13 date for a special meeting of shareholders to vote on its sale to Elon Musk. It’s the month before a trial set for October in Delaware Chancery Court where the social media company hopes to force the billionaire Tesla founder to actually follow through with his $44 billion purchase agreement.
Todd Spangler NY Digital EditorTwitter, which is fighting to extract billions from Elon Musk after he said he wanted to walk away from his $44 billion deal to buy the social network, recorded costs of $33.1 million for the second quarter related to the now-in-limbo merger.Twitter revealed the expenses in its 10-Q filing Tuesday with the SEC. Other than the $33.1 million in “transaction expenses” associated with Musk’s proposed takeover, “the terms of the Merger Agreement did not impact the Company’s consolidated financial statements,” the company said.Twitter has sued sued Musk, demanding that the CEO of Tesla and SpaceX make good on his $44 billion acquisition agreement.
Facing the fallout. Elon Musk found himself at the center of several scandals over the years — which the CEO has preferred to address himself.
Telsa founder Elon Musk denied an alleged affair with the wife of Google co-founder Sergey Brin, which was reported as the reason for the couple’s divorce earlier this year. In a tweet late Sunday evening, Musk said a recent Wall Street Journal report alleging he was the cause of the divorce is "total bs" and that he and Sergey "are friends." "This is total bs. Sergey and I are friends and were at a party together last night!" Musk tweeted.
Elon Musk allegedly had an extramarital affair with Nicole Shanahan, the wife of billionaire Google co-founder Sergey Brin, according to a report in the published on Sunday.The report, citing sources familiar to those involved, claims that Musk and Shanahan had a «brief affair,» which subsequently led Brin to file for divorce earlier this year, and ended a long-standing friendship between Brin and Musk.On Sunday evening, Musk took to Twitter to deny the report, saying, «Yeah, the character assassination attacks have reached a new level this year, but the articles are all nothing-burgers.» The Tesla CEO went on to say, «I work crazy hours, so there just isn’t much time for shenanigans. None of the key people involved in these alleged wrongdoings were even interviewed!»Musk continued, galvanizing his supporters to call out the publication for its reporting, tweeting, «Call them out on it, I guess.
Elon Musk is setting the record straight.
Elon Musk allegedly had an extramarital affair with Nicole Shanahan, the wife of billionaire Google co-founder Sergey Brin, according to a report in the published on Sunday.The report, citing sources familiar to those involved, claims that Musk and Shanahan had a «brief affair,» which subsequently led Brin to file for divorce earlier this year, and ended a long-standing friendship between Brin and Musk.Brin filed for divorce in January citing «irreconcilable differences,» and stated that the pair had been separated since Dec. 15. According to the report, Musk and Shanahan's alleged fling occurred in early December, at the Art Basel event in Miami — which ran from Dec.
Things are getting messy in Silicon Valley!
New reports of one of Elon Musk’s affairs is coming to light.
Elon Musk is facing new allegations.
Twitter is attributing their recent earnings drop to their current legal battle with Elon Musk.
and later back out of acquiring) the social media site.The San Francisco company said it took in $1.18 billion in revenue for the three months ended June 30, down 1% from the $1.19 billion in Q2 2021. The total was 10.6% below the $1.32 billion forecast by Wall Street analysts, according to Yahoo Finance.Twitter posted a net loss of $270 million, or 35 cents per share, reversing a profit of $65.6 million, or 8 cents per share last year.
Todd Spangler NY Digital EditorTwitter revenue for the June 2022 quarter came in short of Wall Street estimates — with the company in part blaming Elon Musk’s attempt to back out of his acquisition deal. The social network also swung to a net loss in the period.Q2 revenue totaled $1.18 billion, down 1% year-over-year.