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Twitter Q2, 2022 Results Amidst Musk Takeover Fiasco

Twitter Q2, 2022

The results for Twitter Q2, 2022 have been better than okay-ish! Considering the organisation is going through a turmoil of events, after Elon Musk’s takeover (at least in theory!)

Twitter Q2, 2022 shows an increase of 9 Million users!

However, there has been a decline in revenue.

Twitter Daily Active Users for Q2, 2022 were 238 million.

In the screenshot below, most of the new growth has come from international markets, with Twitter only adding 2 million new users in the US. But even so, Twitter’s added 5 million more US users over the past three quarters, after growth amongst American users stagnated, and even declined at one stage, for almost two years.

Twitter Q2, 2022

In terms of revenue, Twitter brought in $1.18 billion in Q2, a decrease of 1% year-over-year.

Twitter says that the decline reflects ‘advertising industry headwinds associated with the macroenvironment’, which is all businesses are feeling right now, and you can expect to see every social platform to report similar impacts over the rest of the year.

Also, Twitter said –

“Monetary damages [in the event of Musk exiting the deal], even if available, would not be an adequate remedy in the event that the parties do not perform the provisions of this Agreement.”

Twitter also notes that its costs and expenses in Q2 were $1.52 billion, an increase of 31% year-over-year, with costs related to the pending acquisition of Twitter reaching $33 million in the period. 

Severance-related costs were approximately $19 million – while Twitter also recently noted that employee attrition has ‘been on the upswing since the signing of the merger agreement’.

Well, the future holds uncertainty (at least for the moment) for Twitter!

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