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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Elon Musk says Twitter cash flow is negative due to ad revenue declines, ‘heavy debt'Musk said early Saturday that cash flow at Twitter remains negative because of a nearly 50% drop in advertising revenue coupled with “heavy debt.”
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Elon Musk says Twitter's ad revenue is down 50% and cash flow is negative | CNN BusinessElon Musk disclosed on Twitter Saturday that, due to a 50% drop in advertising revenue and a “heavy debt load,” the platform still has a negative cash flow.
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