Twitter said on Friday that it has lost $270 million in sales while negotiating Elon Musk’s buyout with the billionaire Tesla CEO.
Due to “advertising industry headwinds… as well as uncertainty relating to the potential acquisition of Twitter by an affiliate of Elon Musk,” Twitter reported losing about $1.18 billion in revenue estimates.
The well-known social media site is currently engaged in litigation with Musk over his attempt to withdraw his $44 billion deal to acquire Twitter.
A judge’s decision to allow a speedy trial on the question of whether Musk should be made to complete the buyout was welcomed by Twitter just a few days before, leading to a triumph for Musk.
Musk claims that numerous phoney accounts on Twitter mislead users. Twitter, on the other side, says Musk is attempting to back out of the agreement.
