Twitter Blames Elon Musk , for Its Revenue Slide .<br />'The Guardian' reports that Twitter has blamed <br />Elon Musk for a drop in revenue spurred <br />by the billionaire's chaotic takeover bid.<br />'The Guardian' reports that Twitter has blamed <br />Elon Musk for a drop in revenue spurred <br />by the billionaire's chaotic takeover bid.<br />In addition to Musk's high-profile <br />acquisition attempt, Twitter blamed <br />an overall weak advertising market.<br />In addition to Musk's high-profile <br />acquisition attempt, Twitter blamed <br />an overall weak advertising market.<br />According to the social media company, revenue <br />for the past three months was down to $1.18 billion,<br />a 1% drop from the same time last year.<br />Twitter said the drop reflected “advertising industry headwinds associated with the macroenvironment” <br />as well as “uncertainty related to the pending acquisition.”.<br />Twitter said the drop reflected “advertising industry headwinds associated with the macroenvironment” <br />as well as “uncertainty related to the pending acquisition.”.<br />According to the company, <br />expenses related to Musk's now-abandoned <br />acquisition cost Twitter $33 million in the quarter.<br />Those costs also <br />pushed Twitter into <br />a net loss of $66 million.<br />'The Guardian' reports <br />that Musk’s $44 billion bid <br />overshadowed the company's losses.<br />Due to the ongoing takeover situation, <br />Twitter is not hosting a conference call <br />to discuss earnings results.<br />Due to the ongoing takeover situation, <br />Twitter is not hosting a conference call <br />to discuss earnings results.<br />Musk recently announced that he wanted to pull out of the deal, citing lingering questions over the number of spam or fake accounts on the platform.<br />In response, Twitter has filed a lawsuit attempting <br />to force Musk to proceed with the deal, citing<br />a legal agreement he signed in April
