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Elon Musk says Twitter's cash flow still negative as ad revenue drops 50% (www.reuters.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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Elon Musk says Twitter's cash flow still negative as ad revenue drops 50%::Twitter's cash flow remains negative because of a nearly 50% drop in advertising revenue and a heavy debt load, Elon Musk said on Saturday, falling short of his expectation in March that Twitter could reach cash flow positive by June.

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[-] Koffiato@lemmy.ml -3 points 1 year ago

As far as I know, it was in a worse state. What Elon did since he took over is basically reducing the running costs heavily among other things.

People tend to forget Twitter never made money so far.

[-] _Z1useri@sopuli.xyz 3 points 1 year ago

But that included not paying for servers, firing people and finding out later that they had irreplaceable knowledge, demanding constant crunch time from the poor sods that are left and randomly turning off "unnecessary" services.

I'd be really surprised if that made the overall state better.

this post was submitted on 16 Jul 2023

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