Twitter spent $33m in three months on Musk deal
Twitter spent $33m on Elon Musk's proposed deal to buy the firm between April and June 2022.
It also said its number of monthly daily users had risen to 237m - but it reported a net loss of $270m, which was worse than expected.because Twitter wants to force through the sale., citing the "pending acquisition" as the reason.Twitter has doubled-down on its position on the amount of spam and fake accounts on the platform - the reason Elon Musk had given for terminating the deal.
"We have performed an internal review of a sample of accounts and estimate that the average of false or spam accounts during the second quarter of 2022 represented fewer than 5% of our [monthly active users] during the quarter," it said - although it added that the figure was an estimate.Image source,"Twitter now has an acquirer who no longer wants it, a CEO and board who wants to get rid of it, and an employee base which is caught in the middle of it all," he said.
It also said it had been affected by a change made by Apple last year, which meant iPhone and iPad users could opt out of being tracked by apps. This has affected the personalisation of ads - a very valuable service to tech firms - because they can no longer see their users' other online activities and tailor advertising accordingly.Meta and Google's parent company, Alphabet, is due to report its earnings next week.
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