Twitter lost 270 million dollars on the case against Elon Musk

Twitter lost 270 million dollars on the case against Elon Musk

Twitter has lost 270 million dollars after filing a lawsuit against the famous American company Tesla and SpaceX founder Elon Musk.

According to international media reports, the company suffered a loss of $270 million in the second quarter due to Elon Musk’s pending Twitter deal and reduced advertising revenue.

The report states that the company’s sales last year were $1.18 billion, which is a 1 percent decrease compared to the previous year’s figures, while comparing the company’s share price to a 35 percent loss in 2021. has been marked.

Despite this loss, the company has made a profit of $66 million this year.

Despite the decline in sales, analysts are predicting that the company will earn a profit of $1.32 billion.

Keep in mind that Twitter has filed a lawsuit against Elon Musk, who first pretended to do an open deal and then trashed the company.

Twitter has also requested the court to speed up legal proceedings on this case.

Elon Musk has filed a written response to the Twitter lawsuit, asking that Twitter’s “unfair motion” to file a two-month court action on the merger case be dismissed. .

The written response also said that Twitter’s sudden move to court after hanging up on the deal for two months and then asking for an expedited court action was an attempt by Twitter to hide the truth about the spam accounts. There is a new strategy adopted for

Musk’s lawyers say that it will take a lot of time to find a solution to this issue, so the hearing of this case should be scheduled for February next year.

It should be noted that Elon Musk’s bank loan financing package expires in April 2023, meaning that if the trial in the case began in February and did not end by April, the deal would be void. may end.

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