Twitter (NYSE:TWTR) has stolen headlines in recent months after Tesla co-founder and CEO Elon Musk
proceeded with an aggressive purchase of the social media giant. In the end, Musk shelled out $44
billion and promised a radical new approach at the company.
Musk officially assumed ownership this week. He wasted no time in making a splash and tweeted “The
bird is freed”. Musk went on to terminate the employment of Twitter’s CEO, CFO, and policy chief. This
appears to indicate that the renegade entrepreneur will seek to take a much different approach to user
policy and conduct going forward. Will that approach lead to improved profitability? It remains to be
seen.
Investors can expect to see this company’s next batch of results in the coming days. In Q2 2022, Twitter
reported an adjusted earnings per share loss of $0.08. That fell dramatically short of expected earnings
per share of $0.14. Meanwhile, it reported total revenue of $1.18 billion – down from $1.32 billion in the
previous year. Monetizable Daily Active Users (mDAUs) were reported at 237.8 million, which fell short
of analyst projections.
Shares of this top tech stock are trading in favourable value territory compared to its industry peers. It is
still on track for strong revenue growth going forward. Many anticipate that Elon Musk will move to
reinstate accounts that have been booted off the platform in recent years. These include controversial
profiles like Alex Jones and the 45th President of the United States; Donald Trump.
