Twitter blames revenue slide on Elon Musk takeover uncertainty

Social media firm says 1% decline for three months to 30 June reflects uncertainty over acquisition bid

Twitter has blamed a drop in revenue on uncertainty around Elon Musk's chaotic takeover bid for the business and a weak advertising market.

The social media company said revenue for the three months to 30 June was $1.18bn (986m), a decline of 1% on the same period last year, which it said reflected advertising industry headwinds associated with the macroenvironment" as well as uncertainty related to the pending acquisition of Twitter" by the Tesla chief executive.