Twitter’s revenues stoop in Q2 with blaming Elon Musk

The social media company Twitter reported on Friday revenues slide down in the second quarter of one percent year-over-year, while the reason behinds the uncertainty caused by the pending acquisition by an affiliate of Elon Musk.

Twitter also added that the macroeconomic troubles have affected the revenues, which the company’s quarterly revenue declined for the first time since 2020 as it struggled to be a destination for advertisers and deviated to a net loss.

This month, Musk has decided to withdraw of buying Twitter for $44 billion and subsequently was sued by Twitter.

Musk’s lawyers responded to Twiter’s lawsuit, seeking to delay its hearing scheduled for September.