The billionaire owner of Twitter, Elon Musk, stressed that “Twitter’s cash flow is still negative, due to a decrease in advertising revenue by about 50%.”
In March, the Wall Street Journal reported that Twitter posted a 40% annual decline in both revenue and adjusted earnings for the month of December.
This report, which the newspaper quoted from informed people, came after many advertisers cut their spending on the social media platform amid alleged concerns about content management, after Elon Musk took charge of the company on October 27.
Musk had warned last November of the possibility of Twitter’s bankruptcy, and stated in December that the service was suffering from a “significant drop in revenue” and that the company was on its way to achieving “an almost break-even point of cash flow” in 2023.
2023-07-15 20:10:06
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