Twitter Cites Elon Musk As Cause For Financial Losses

Twitter revealed dismal earnings on July 22, which the social network ascribed to "headwinds" such as uncertainty surrounding Elon Musk's acquisition attempt. Twitter's revenue of $1.18 billion fell short of forecasts, owing to "advertising industry headwinds... as well as uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk," Twitter said.  According to analysts, Twitter's user base in US is unlikely to expand and may diminish.