The owner of the social network Twitter, Elon Musk, said on Saturday that the company, bought for 44,000 million dollars (39,000 million euros) in October 2022, lost about half of its advertising revenue.
“We are still in a negative cash flow situation, due to around a 50% drop in ad revenue and a heavy debt load,” the billionaire responded on Twitter to a user who was making strategic suggestions about the network. Social.
“We need to get to cash flow positive before we can afford to do anything else,” he added, without elaborating.
The changes made by Elon Musk since he took control of Twitter have left users and advertisers dissatisfied.
In May, Insider Intelligence reported that Twitter would earn less than $3 billion (€2.7 billion) this year, a figure a third less than in 2022.
Source: TSF
