Twitter's Ad Revenue Down Almost 50% Since Elon Musk Takeover | Compare reporting by FoxBusiness CNN BBCWorld
Elon Musk revealed Saturday that Twitter’s cash flow is still negative due to a drop in advertising on the site and a"heavy debt load" following his $44 billion buy last year.
"We’re still negative cash flow, due to — 50% drop in advertising revenue plus heavy debt load," the Tesla and SpaceX CEO, who is Twitter’s executive chairman, said in response to a user who suggested the platform recapitalize."Need to reach positive cash flow before we have the luxury of anything else."
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