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Twitter (TWTR) earnings Q2 2022

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Twitter reported results for the second quarter on Friday that missed analyst estimates on earnings, revenue and user growth.

Shares of Twitter closed up about .8% on Friday.

Listed here are the important thing numbers:

  • Earnings per share: A lack of 8 cents, adjusted, vs expected earnings of 14 cents, based on a Refinitiv survey of analysts
  • Revenue: $1.18 billion vs $1.32 billion
  • Monetizable Every day Energetic Users (mDAUs): 237.8 million vs 238.08 million expected, based on Refinitiv

Twitter said revenue slid 1% yr over yr to $1.18 billion. Wall Street had expected $1.32 billion, representing 10.5% growth yr over yr. It marked Twitter’s biggest revenue miss ever, with results coming in 11% below estimates, based on Refinitiv.

The corporate partially blamed the revenue drop on ad industry headwinds tied to the broader difficult macroeconomic environment, in addition to “uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk.”

Twitter and other social media corporations with a heavy reliance on promoting have felt the burden of economic challenges, as fears around inflation, rate of interest concerns, continued supply chain issues and the war in Ukraine led some advertisers and types to regulate their ad spend. On Thursday, Snap reported disappointing second-quarter results, and said it plans to slow hiring because of weakening revenue growth, causing its shares to plunge 25% in prolonged trading.

Given the pending acquisition by Musk, Twitter said it’ll not provide forward-looking guidance for the third quarter. It is also not hosting a conference call with analysts to debate the earnings results.

Costs and expenses through the quarter ballooned 31% yr over yr to $1.52 billion. The corporate swung to a lack of 8 cents per share, reporting its first adjusted loss in two years and the second in its history.

The official profile of Elon Musk on the social network Twitter.

Rafael Henrique | Lightrocket | Getty Images

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