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 - 15:23 / variety.com
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.
That reflected “advertising industry headwinds associated with the macroenvironment” — as well as “uncertainty related to the pending acquisition of Twitter” by Musk, the company said.Twitter posted the results amid its legal battle with Elon Musk, in which Twitter is demanding that the world’s richest person make good on his $44 billion acquisition agreement. A judge in the Delaware Court of Chancery set October for a trial in to hear Twitter’s case against Musk.
Click here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more.Analysts expected Twitter to post $1.34 billion in revenue and adjusted earnings of 14 cents per share for Q2, according to financial data provider Refinitiv.Q2 average monetizable daily active users increased by 8.8 million sequentially, to 237.8 million, up 16.6% year over year. Average U.S.
mDAUs were 41.5 million for Q2, up 14.7% versus the year-earlier period.Twitter’s stock was down 2% in the premarket trading on the Q2 announcement, to under $39/share. Musk had offered $54.20/share for Twitter.Twitter, in its lawsuit against Musk, alleged that the tech mogul has “repeatedly disparaged Twitter and the deal, creating business risk for Twitter and downward pressure on its share price.” Musk claims he needs verification of Twitter’s claim that fake and spam accounts are under 5% of DAUs; Twitter’s lawyers say Musk just has buyer’s
.Todd Spangler NY Digital EditorMega-billionaire Elon Musk sold share of Tesla worth about $6.9 billion on Aug. 5, according to regulatory filings.
Todd Spangler NY Digital EditorUPDATED: Twitter appeared to briefly suffer wide-scale technical problems Tuesday, as thousands of users reported problems accessing the service.Users error reports for Twitter spiked on service-monitoring site Downdetector at about 2 p.m. ET Tuesday, with more than 15,000 complaints. By 2:07 p.m., that number had more than doubled.At 2:32 p.m.
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.
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.
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.