Advertising revenue totaled 1.08 Bn USD: Twitter Q2 2022 Report

The Twitter Q2 2022 Report underlines daily active usage of the platform, updates for brands and advertisers, acquisition by Elon Musk, expectations for the next quarter and the financial year, and more.

Current standings on the company's total revenue, and revenue-generation avenues, and a recent update on the pending acquisition have also been provided in the Twitter Q2 2022 Report.

• Q2 average monetizable daily active usage (mDAU) was 237.8 Mn, up 16.6% compared to Q2 of the prior year
• Revenue totaled 1.18 Bn USD, a decrease of 1% year-over-year, or an increase of 2% on a constant currency basis

Also Read: SEC releases letter to Musk; holds him accountable for not responding on Twitter deal

• Advertising revenue totaled 1.08 Bn, an increase of 2%, or 6% on a constant currency basis
• Subscription and other revenue totaled 101 Mn, a decrease of 27% year-over-year, or an increase of 7% year-over-year when excluding MoPub from the year-ago period
• Following the pending closure of acquisition, representatives of Musk delivered a notice purporting to terminate the merger agreement, and Twitter believes that Musk’s purported termination is invalid and wrongful
• Twitter commenced litigation against Musk and certain of his affiliates, the company's request for an expedited trial was granted, and the trial is being scheduled for October 2022