Ad revenue on Twitter plummeted by 50 percent

2023-07-15 21:28:00

Musk wrote Saturday that Twitter needs to be cash flow positive “before we can afford anything else.” He was responding to a tweet about proposals to recapitalize the company. It was initially unclear to what period Musk was referring to his statement about a 50 percent drop in advertising revenue. He has previously said Twitter is on track to hit $3 billion in revenue by 2023, up from $5.1 billion in 2021.