Twitter's income fell by 50 percent after Elon Musk's acquisition, Musk said - these challenges are still in front of the company

Twitter Revenue Down by 50 Percent It has been said by Elon Musk that Twitter's income has declined by 50 percent. The company is on track to post $3 billion in revenue in 2023, up from $5.1 billion in 2021. Making the company's cash flow positive is still a challenge.

Jul 16, 2023 - 09:43
 0
Twitter's income fell by 50 percent after Elon Musk's acquisition, Musk said - these challenges are still in front of the company

On behalf of Elon Musk, it was said that the cash flow of the social media app Twitter still remains negative. The reason for this is a 50 percent drop in the company's advertising income and heavy debt. Earlier in March, it was expected that Twitter's cash flow could turn positive by June.
In response to a tweet, Musk said that we must be cash flow positive before we can afford any luxury.
Since acquiring the company in October last year, Musk has been taking several decisions to bring Twitter's cash flow positive. A large number of employees have been laid off in the company and along with this, many other types of cloud services bills have also been reduced.
Musk said that the company's non-debt expenses have been reduced to $ 1.5 billion (about Rs 12,300 crore), which was $ 4.5 billion (about Rs 37,000 crore) in 2023. Twitter is also paying an annual interest of $ 1.5 billion (about Rs 12,300 crore), which was taken to take Twitter private in an acquisition deal worth $ 44 billion (about Rs 3,61,400 crore). I went.
It is clear now that Musk is talking about Twitter's revenue falling by 50 percent over a period of time. He said Twitter is on track to post an income of $3 billion (about Rs 24,600 crore) in 2023. In 2021 it was $ 5.1 billion (about Rs 41,900 crore).
Musk hired Linda Yacarino, former advertising head of Comcast's NBCUniversal, as CEO, indicating that advertising sales are a priority for Twitter.

Muskan Kumawat Journalist & Writer