Tech Talk: Twitter user growth rises but weak sales highlight Musk challenges – Gulf Digital News

Tech Talk: Twitter user growth rises but weak sales highlight Musk challenges – Gulf Digital News

Twitter Inc (TWTR.N)on Thursday reported overall revenue and ad sales that fell short of expectations, hurt by the ongoing war in Ukraine, laying out the challenges billionaire Elon Musk will face if he takes over the social media company.

Although it reported stronger-than-expected user growth in what could be the last quarter as a public company, Twitter shares fell slightly.

"Elon Musk is buying Twitter at a time when the company is struggling to attract new users following the pandemic-driven surge," said Haris Anwar, senior analyst at Investing.com.

To put Twitter's user growth in perspective, the sequential addition of 12 million users in the first quarter is the biggest since the height of the pandemic. Since then, it has not come near that level and has ranged between 1 million to 7 million new users per quarter, after growing by 20 million daily active users in the second quarter of 2020.

The company would need to add at least 12 million users every quarter until the end of next year to achieve the ambitious 2023 goals it set for itself, which Twitter has now disavowed because of the deal.

"We think macro issues will take (Twitter) further away from its previously-stated 2023 goals," said Angelo