Twitter Cancels Investor Conference Citing Pending Deal with Elon Musk
Social network Twitter has recently released its financial results for the second quarter of 2022, however, it has declined to call with investors citing the “pending deal” with Elon Musk.
The press release shared by the company reads:
“Given the pending acquisition of Twitter by an affiliate of Elon Musk, we will not be holding an earnings call, issuing a shareholder letter, or providing financial advice.”
According to the results of Q2, the base of active users of the social network grew by 16.6%, up to 237 million people. At the same time, the company’s revenue decreased by 1%, to $1.18 billion.
Elon Musk acquired in April a 9.2% stake in Twitter, and later offered to buy the company for $54.2 per share. The management of the social network agreed to the terms. However, Musk put the purchase on hold in May after reports of inflated social media audience numbers.
