Twitter Operating Loss $344 Million In Q2, Blames ‘Musk Deal’

The second quarter was not a good one for Twitter.

Top-line revenue missed expectations ($1.18bn vs $1.32bn exp) as Ad Revenue disappointed ($1.08bn vs $1.23bn exp) – echoing SNAP’s results.

Bottom-line was worse as the social media firm lost 8c (adjusted).

Finally, Twitter suffered a $344 operating loss in Q2, which it blamed on the macroenvironment and the Musk deal.

There were two silver linings:

Q2 Subscription (and Other) Revenue was $101mm (better than the $96.2mm expected)

Q2 Monetizable DAUs were at 237.8 million (better than the 237.5 million expected) – which seems like a big deal amid all the chaos.

The company added 8.8 million new users during the quarter, in line with analysts’ expectations.

The company cited foreign exchange impacts, as well as “advertising industry headwinds” and uncertainty surrounding the acquisition by Elon Musk.

The share price is higher after earnings but remains lower from last night’s close, hurt by SNAP’s impact…

Twitter notes that it will not be hosting a call or providing any financial guidance.