My conjecture in May was that Twitter used click fraud to create an illusion of profit in the 1st quarter, thus denying Donald Trump any satisfaction from an income drop. So what do we see this month? Ooops. Apparently income was "miscalculated". That's because they can only engage in fraud for so long before it becomes apparent in other ways. They backworked it to balance things out, which I was expecting.
"subtraction of the costs of a $766 million charge to earnings for a "one-time litigation-related" expense".
In other words, Twitter management has a history of engaging in fraud. Both Dorsey and Zuckerberg are psychopathic and have no moral compass. And we're back to no-profit scenarios...
"that growth came at a cost -- negative FCF and even more negative earnings."
Eventually you have to decide if you're about truth or lies in Life. And most Americans fall far short of who they imagine they are. At 63, I'm increasingly happy I never had kids.