Insider Intelligence has reported that Twitter was set to earn less than $3 billion in 2023, down one-third from 2022.
NEW YORK - Twitter owner Elon Musk said the social media platform he bought for $44 billion last October has lost roughly half of its advertising revenue.
"Need to reach positive cash flow before we have the luxury of anything else," he added, without further elaboration. Earlier this month, Musk announced that Twitter was limiting verified accounts to reading 10,000 tweets a day. The changes came as Threads, an app launched by Facebook parent Meta as a rival to Twitter, signed up more than 100 million users in its first five days.
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