Elon Musk says Twitter is still losing cash because advertising has dropped by half.<\/p>\n\n\n\n
In a reply to a tweet offering business advice, Musk tweeted Saturday, \u201cWe\u2019re still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load.\u201d<\/p>\n\n\n\n
\u201cNeed to reach positive cash flow before we have the luxury of anything else,\u201d he concluded.<\/p>\n\n\n\n
Ever since he\u00a0took over Twitter\u00a0in a $44 billion deal last fall, Musk has tried to\u00a0reassure advertisers\u00a0who were concerned about the ouster of top executives, widespread layoffs and a different approach to content moderation. Some high-profile users who had been banned were allowed\u00a0back on the site.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
In May, he hired a new CEO, Linda Yaccarino, an NBCUniversal executive with deep ties to the advertising industry.<\/p>\n\n\n\n
But since then, Twitter has upset some users by imposing\u00a0new limits\u00a0on how many tweets they can view in a day, and some users complained that they were locked out of the site. Musk said the restrictions were needed to prevent unauthorized\u00a0scraping of potentially valuable data.<\/p>\n\n\n\n
Twitter got a new competitor this month when Facebook owner Meta launched a text-focused app, Threads, and gained\u00a0tens of millions of sign-ups\u00a0in a few days. Twitter responded by\u00a0threatening legal action.<\/p>\n","protected":false},"excerpt":{"rendered":"
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