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Musk says a 50% drop in ad revenue for Twitter is causing negative cash flow (www.phonearena.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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Musk says a 50% drop in ad revenue for Twitter is causing negative cash flow::Elon Musk says that Twitter's cash flow is still in the red due to a 50% drop in advertising revenue.

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[–] ricecooker@lemmy.world 8 points 1 year ago

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.

And now Elon gets to play the same game that every other social network plays. Will be interesting to see how he reacts.