Twitter reports earnings miss, cites Musk buyout uncertainty

Twitter reported disappointing results on Friday, a miss that the social network attributed to “headwinds” including the uncertainty related to Elon Musk’s buyout bid.

The firm is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from his $44 billion deal to purchase the platform, leaving the company in limbo.

Twitter missed expectations with revenue of $1.18 billion, due to “advertising industry headwinds… as well as uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk,” the firm reported.

The news comes days after Twitter notched a victory in its fight with Musk, when a judge agreed to a fast-track trial on whether to force the billionaire to complete the buyout.