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In 2021, Twitter settled a shareholder lawsuit for $800 million. That's a one-time expense, not an ongoing cost each year.
by evanelias 4y ago
In 2021, Twitter settled a shareholder lawsuit for $800 million. That's a one-time expense, not an ongoing cost each year.
- andsoitis 4y agoTwitter also made a net loss in 2020 to the tune of over $1 billion. They only managed to report net income in 2018 and 2019. So looking at the overall picture I still argue that saying Twitter is a profitable business to be very very optimistic and not really true.
- evanelias 4y agoSeems less cut and dry to me: * Profitable in 2018 * Profitable in 2019 * Would have been profitable in 2021, if not for the shareholder lawsuit * Profitable in H1 2022, despite having an operating loss, due to making a $655m profit on the sale of MoPub I'm not saying this is a great business. But some folks are making it sound like Twitter was about to collapse and go broke on its own, which is ridiculous. They still had $2.7B cash + $3.4B short-term investments on hand at the end of Q2!