Elon Musk writes that Twitter is still losing cash – New York Daily News

Twitter is still losing money, Elon Musk told a user this weekend.Responding to a tweeter who offered financial advice, Musk wrote on Saturday, “We’re still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load.”“Need to reach positive cash flow before we have the luxury of anything else,” he added.Twitter logos hang outside the company’s offices in San Francisco, in December. (Jeff Chiu/AP)Since acquiring Twitter for $44 billion in 2022, Musk has sought to reassure advertisers concerned by changes at the company, including the departure of top executives and shifts in content moderation.Musk has reinstated some high-profile users who were previously banned, and in April, he expressed optimism that most advertisers had returned and that Twitter could achieve positive cash flow in the second quarter.Additionally, Musk appointed Linda Yaccarino, a former NBCUniversal executive experienced in the advertising industry, as the new CEO of Twitter.But some recent changes — such as limits on the number of tweets users can view per day — have dissatisfied some users, leading to complaints of being locked out of the platform.Elon Musk (Michel Euler/AP)Musk defended these restrictions, explaining that they were necessary to prevent unauthorized scraping of Twitter data.Twitter
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