Twitter Inc. reported on Friday that its revenue remained mostly unchanged in the second quarter of 2022 at $1.18 billion, amid uncertainties related to the pending takeover by billionaire Elon Musk, APA reports citing Tele Trader.

The platform’s average monetizable daily active usage (mDAU) increased by 16.6% to 237.8 million, with averaging US mDAU rising 14.7% to 41.5 million. Twitter’s costs and expenses soared 31% to $1.52 billion, while on the other hand, operating loss shrank 29% to $344 million.

Twitter also saw a net loss of $270 million, or a diluted loss per share of $0.35. “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,” the report concluded.

Source: Azeri-Press News Agency