Twitter's Revenue, Adjusted Earnings Drop About 40% in December

Reuters2023-03-05

Twitter Inc reported a drop of about 40% year-over-year in both revenue and adjusted earnings for the month of December, the Wall Street Journal reported on Friday citing people familiar with the matter.

The report comes after several advertisers slashed their spending on the social-media platform after Elon Musk took charge of the company on Oct. 27, resulting in a 71% drop in advertising spend on Twitter during December, data from advertising research firm—Standard Media Index showed.

Twitter did not immediately respond to a Reuters request for comment.

Musk, who warned in November about the possibility of the Twitter going bankrupt, said in December that the company was on track to be "roughly cash flow break-even" in 2023.

Twitter made its first interest payment in January on a loan that banks provided to help finance billionaire Musk's purchase of the social media company last year.

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Comments

  • romanc9
    2023-03-05
    romanc9
    No so bad, still have revenue just 40% but still in the black. Think Elon will list it again. Once he level up the company. 
  • Bullcowox
    2023-03-05
    Bullcowox
    Good
  • TKY1978
    2023-03-05
    TKY1978
    [Smile] 
  • WmochaW
    2023-03-05
    WmochaW
    Thanks
  • Eellen
    2023-03-05
    Eellen
    Like
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