Social-media company cites advertising weakness and the Tesla CEO’s pending $44 billion takeover
Twitter Inc. reported a surprising decline in revenue that the social-media company blamed on advertising weakness and uncertainty related to its pending $44 billion acquisition by Elon Musk.
Twitter’s results Friday follow rival social-media company Snap Inc. posting its weakest-ever quarterly sales growth because of what it said was “increasing competition for advertising dollars that are now growing more slowly.”
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