As Twitter-specific of a problem as it gets.
Twitter would have earned more money over the past few months if Elon Musk hadn’t been in the picture. At least, that’s what the company says in itsthis morning, citing Musk as a factor in its revenue results, which fell year over year to $1.18 billion from $1.19 billion.
That’s not the only reason Twitter is experiencing revenue problems. The company also cites ad industry problems — see yesterday — and the general economic environment. But “uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk” is the most Twitter-specific problem on the list.Musk entered into an agreement to buy Twitter in April, and he’s been trying to back out of it since just weeks afterward. Finally, Musk filed with the Securities and Exchange Commission in an attempt to formally end the deal earlier this month, and the two parties are now headed to court in October.
For the time being, though, the chaotic acquisition seems to be making it more difficult for Twitter to sell ads.
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