The owner of the social network Twitter, Elon Musk, said on Saturday that the company, which was bought for $ 44 billion (39 billion euros) in October 2022, lost about half of its advertising revenue.
“We are still in negative cash flow, due to about a 50% decline in ad revenue and heavy debt,” the billionaire replied on Twitter to a user who made strategic suggestions about the network Social.
“We need to get to positive cash flow before we can afford to do anything else,” he added, without elaborating.
The changes Elon Musk has made since taking control of Twitter have left users and advertisers dissatisfied.
In May, Insider Intelligence reported that Twitter would make less than $3 billion (€2.7 billion) this year, a figure a third lower than in 2022.
Source: DN
