Twitter owner Elon Musk wrote in the online service on Saturday that the company continued to record negative cash flow as advertising revenue fell by about 50 percent.
The debt burden is also still high. Twitter needs to achieve positive cash flow “before we can afford the luxury of anything else,” Musk added.
The technology billionaire bought the online service in October 2022 for $44 billion. Subsequently, among other things, he stopped moderating the content distributed there – but this is very important for potential advertising customers who want to present their offers in a positive environment.
Limited number of readable tweets
Other decisions have also deterred advertisers, as well as many users: In early July, for example, Musk decided to limit the number of tweets that non-paying users could read each day. In the future, only paying users will be able to use the Tweetdeck application.
As a result, industry observer Insider Intelligence had predicted in May that Twitter will rake in less than $3 billion this year — a 28 percent slump compared to the previous year. (cst/sda/afp)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
