Musk sheds light on Twitter’s finances — RT Business News

Twitter is “approximately the break-even point” as most of its advertisers have returned, the social media company’s CEO Elon Musk said in an interview on Wednesday.

things are going now “reasonably well” with usage on the rise, Musk told the BBC without going into details.

almost all advertisers “seem to have returned or say they will return”, he explained, referring to what he described last month as a “massive drop in advertising” since its controversial acquisition of the microblogging site last October.

At the time of the agreement, Twitter was “spending money as if it were out of fashion” Musk said and that “radical action” had to be taken.

As part of its aggressive cost-cutting efforts, the company has reduced the number of employees from just under 8,000 to around 1,500 people, which Musk admitted. “sore.”

The billionaire CEO said he believes Twitter “could be profitable, or to be more precise…positive cash flow” if things “carry on well.”

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