Twitter’s year-over-year revenue declined by 40%, a report claims.
The total was given to Platformer reporter Zoe Schiffer via an insider source. She noted that CEO Elon Musk’s first interest payment on the company is due at the end of January.
Tiny scoop: We learned today that Twitter’s revenue is down 40 percent year over year (& Musk’s first giant interest payment on the company is due at the end of the month): https://t.co/IH7lJiQ0Dw
— Zoë Schiffer (@ZoeSchiffer) January 18, 2023
TWITTER SUED OVER ALLEGED HACK THAT MAY HAVE LEFT OVER 200 MILLION EXPOSED
The bleak financial picture presents a major challenge for Musk, who has been working to institute a number of changes in efforts to make the platform more profitable. He purchased the company last year for roughly $44 billion.
His tenure as CEO has seen him showered with an almost equal amount of praise from conservatives and criticism from liberals.
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Last week, allegations of a major hack were disclosed. It apparently exposed the information of over 200 million users and led to a major lawsuit.
