World News@lemmy.worldEnglish · 1 year ago

Elon Musk says Twitter’s ad revenue is down 50% and cash flow is negative

www.cnn.com

cross-posted to:
news@chat.maiion.com

Elon Musk says Twitter’s ad revenue is down 50% and cash flow is negative

www.cnn.com

Newstart@lemmy.world to

World News@lemmy.worldEnglish · 1 year ago

cross-posted to:
news@chat.maiion.com

Elon Musk says Twitter's ad revenue is down 50% and cash flow is negative | CNN Business

www.cnn.com

Elon 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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His old business partner Peter Thiel failed to start up a rival to Twitter, so Musk came along and saddled Twitter with $13 bn of debt to kill it.
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