Twitter blames Elon Musk for making it lose money

Illustration by Alex Castro / The Verge

If Musk hadn't been in the picture, the company would have earned more money. In its Q2 earnings release this morning, the company said that Musk was a factor in its revenue results, which fell year over year to $1.18 billion.

That is not the only reason for the revenue issues. There are problems in the ad industry, as well as the general economic environment. Uncertainty related to the pending acquisition of Twitpic is the most specific problem on the list.

Since April, when Musk entered into an agreement to buy Twitter, he has been attempting to back out. The two parties are going to court in October after Musk filed with the SEC to end the deal. The acquisition would be a premium over the company's current share price.

The acquisition seems to be making it harder for the company to sell advertising. According to Ad Age, the drama has sent the company's ad sales into "disarray."

Even though revenue was down, the ad sales were still up. The company doesn't need to grow ad sales very fast. The company reported a net loss of $270 million, compared to a profit of $66 million in the same quarter a year ago. The revenue figure is not as good as it could be. Last year, the revenue of the company grew by 74 percent. It is getting smaller.

It will not be given Musk credit for. The growth of its users. The number of daily users of the service increased from last quarter. It was due to continuing product improvements.