Twitter cash flow – pressnews

[ad_1] Twitter owner Elon Musk said the company still has a negative cash flow because of its heavy debt load and a roughly 50% drop in advertising revenue.The social media site will “need to reach positive cash flow before we have the luxury of anything else,” Musk said in a tweet. Several top advertisers paused spending on the platform after Musk acquired the company last year over concerns about changes the billionaire could make. Earlier this year, Musk said that many of the advertisers who fled had returned, and that becoming cash-flow positive was imminent. “Almost all of them have either come back or said they're coming back,” Musk said in a Twitter Spaces in April.Advertiser spending dropped 89% to $7.6 million over a two-month period early this year, according to estimates for ...

[ad_1] Elon Musk declared that most of the advertisers who abandoned Twitter after his $44 billion acquisition have returned, and said the company could become cash-flow positive as soon as this quarter.Speaking in a rambling Twitter Spaces interview with the BBC, Musk said there are just 1,500 employees left, down from around 8,000, and he reaffirmed Twitter is operating at about breakeven. More than 3 million concurrent users tuned in to the almost two-hour-long conversation, which at times became combative as the billionaire turned the tables on his interviewer and questioned the BBC's track record on everything from Covid misinformation to hate speech. Twitter reported positive cash flow in July, its last earnings disclosure before the culmination of Musk's tumultuous acquisition. T...

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Musk Says Twitter Cash Flow Still Negative as Ad Revenue Halved

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