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earnings Twitter fell 40% at the end of 2022 after a post-acquisition advertiser churn Elon Musk.
With the arrival of the billionaire, the social network no longer publicly reports its income due to his change at the end of October. However, at the end of December, the company informed its investors about the decline in revenue.
Drop in Twitter revenue
Twitter saw red numbers after many companies reduced their advertising spend on the platform after the release Elon Musk mostly due to problems with content moderation.
twitter, to counter this, he offered special offers to his advertisers, but this was not enough to prevent the downfall.
Of course, the exact figures for income and earnings for 2022 were not reported. Latest public earnings report Twitter before Elon Musk buy the company was in the second quarter of 2022. Company reported $1.18 billion in revenue and a $270 million net loss for the quarter.
By 2023, a large percentage of the companies that have broken this link have returned to Twitter due to the Super Bowl sellout in February.
still not saved
Elon Musk indicated a week after purchase Twitter that the company was losing $4 million a day, so it started laying off employees, terminating third-party contracts, and issuing ultimatums to intimidate the remaining employees.
For now, Twitter it relies on the company’s advertising and subscriptions, although its own, Twitter Blue, has been criticized and failed to attract expected new paying users.
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Source: RPP
I am Ben Stock, a passionate and experienced digital journalist working in the news industry. At the Buna Times, I write articles covering technology developments and related topics. I strive to provide reliable information that my readers can trust. My research skills are top-notch, as well as my ability to craft engaging stories on timely topics with clarity and accuracy.