Twitter released its financial results for the second quarter of 2022 but declined to meet with investors. The board said it had a “pending deal” with Elon Musk.

Twitter’s Q2’22 results are now available. Read about it here: https://t.co/k5Wbvok9QW $TWTR

— Twitter Investor Relations (@TwitterIR) July 22, 2022

“Given the pending acquisition of Twitter by a subsidiary of Elon Musk, we will not be issuing an earnings call, issuing a shareholder letter, or providing financial advice. […]”, says the press release.

According to the results of the II quarter, the base of active users of the social network increased by 16.6%, reaching 237 million people. At the same time, the company’s revenue fell 1% to $1.18 billion.

In April 2022, Elon Musk bought a 9.2% stake in Twitter and later offered to buy the company for $54.2 per share. The administration of the social network agreed to the terms.

The billionaire described the initiative with his desire to create an “inclusive arena for free speech.”

However, in May, Musk suspended the acquisition after reports of inflated social media viewership numbers. Twitter shareholders subsequently filed a lawsuit over the “chaotic process” of the company’s takeover, accusing Tesla’s chairman of manipulating the market.

In July, Musk announced that the deal to buy the social network had been terminated.

Remember, that same month, Twitter sued Tesla’s president for leaving the deal. The platform aims to force the entrepreneur to fulfill his obligations and complete the purchase.

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