Twitter has been caught up in plenty of headlines recently, and all that news didn't end up helping the social media company on the bottom line: abc15
Twitter reported a $270 million net loss in the second quarter of 2022 as the company faced uncertainty over its future ownership.“Twitter believes that Mr. Musk’s purported termination is invalid and wrongful, and the merger agreement remains in effect,” Twitter said on Friday. “On July 12, 2022, Twitter commenced litigation against Mr.
Musk said he backed out of the sale because Twitter could not verify the percentage of users who are false or spam accounts. Twitter said Friday an internal audit found that less than 5% of accounts are comprised of false or spam accounts. Twitter, however, said its figure of spam accounts could be underrepresented and it is looking for ways to approve its accounting.
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