2023-07-16 05:48:02
Elon Musk said Twitter’s cash flow remains negative due to a nearly 50% drop in revenue and high debt, reports Archyde.com.
Elon Musk is Twitter Photo: Jonathan Raa/NurPhoto / Shutterstock Editorial / Profimedia
“We need to achieve positive cash flow before we can afford the luxury of anything else,” Musk said in a tweet on Saturday morning, quote[Newsro[Newsro
After Musk bought Twitter in October, the social media firm faced months of chaos, including the layoff of thousands of employees, criticism of lax content moderation and the exodus of many advertisers who didn’t want their ads appearing next to inappropriate content. .
The hiring as CEO of Linda Yaccarino, the former head of at Comcast-owned NBCUniversal, signaled that ad sales remain a priority for Twitter even as it works to grow subscription revenue.
Yaccarino started working at Twitter in early June.
On Thursday, Twitter said certain content creators would be eligible to get a share of the company’s ad revenue in an effort to attract more content creators to the site.
1689526862
#Elon #Musk #complains #Twitter #losing #money #due #drop # #revenue