Twitter usage grew 16.6 percent in Q2 2022, but the service suffered a slight revenue decrease thanks to uncertainty around the Elon Musk acquisition. Twitter reported a loss of $270 million on revenues of $1.18 billion, down 1 percent year-over-year (YOY). In the year-ago quarter, the service had a net income of $66 million.
Twitter declined to host an earnings conference call, issue a shareholder letter, or provide financial guidance due to “the pending acquisition of Twitter by an affiliate of Elon Musk.” But it did blame the poor financial showing on “advertising industry headwinds associated with the macroenvironment as well as uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk.”
That said, Twitter’s usage looks strong. The firm reported that it had 237.8 million monetizable daily active users (mDAUs) in the quarter, that is, users who saw ads, up 16.6 percent YOY. “The increase was driven by ongoing product improvements and global conversation around current events,” Twitter noted.
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