Musk says Twitter is losing cash because advertising is down and the company is carrying heavy debt

📆 16/07/2023 16:03:00
📰 OttawaCitizen

⏱ Reading Time:
8 sec. here
2 min. at publisher
📊 Quality Score:
News: 6%
Publisher: 68%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Elon Musk says Twitter is still losing cash because advertising has dropped by half.

In a reply to a tweet offering business advice, Musk tweeted Saturday, “We’re still negative cash flow, due to 50% drop in advertising revenue plus heavy debt load.”“Need to reach positive cash flow before we have the luxury of anything else,” he concluded.

In April, Musk said most of the advertisers who left had returned and that the company might become cash-flow positive in the second quarter.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Musk says Twitter is losing cash because advertising is down and the company is carrying heavy debtElon Musk says Twitter is still losing cash because advertising has dropped by half.
Source: ottawasuncom - 🏆 4. / 92 Read more »

Musk says Twitter losing cash because advertising is down and company is carrying heavy debtElon Musk says Twitter is still losing cash because advertising has dropped by half.
Source: CP24 - 🏆 30. / 67 Read more »