Twitter, embroiled in a grueling legal fight with Elon Musk as he tries to back out of a $44 billion acquisition of the company, revealed on Friday what could be even deeper problems facing its business as it struggles to be a destination for advertisers and generate a profit.

The social media company reported revenue of $1.18 billion for the second quarter, down 1 percent from a year earlier. That is a far cry from the 20 percent pace of growth that it once predicted for the year. As costs and expenses grew, the company reported a net loss of $270 million, a major swing downward compared with a profit of $66 million in the same quarter last year.

Financial analysts had expected about $1.3 billion in revenue. Twitter’s stock price fell more than 2 percent in premarket trading.