Twitter's revenue, adjusted earnings drop about 40% in December: report

SynopsisElon Musk has been trying hard to increase Twitter’s revenue and launched the paid subscription of Twitter Blue after an initial delay. However, it has not found many takers. ReutersThe cut in social media spending resulted in a 71% drop in advertising spend on Twitter during DecemberAs advertisers continue to move away from Twitter since Elon Musk’s takeover in October last year, the microblogging platform reported a drop in revenue and adjusted earnings for December, The Wall Street Journal reported citing sources.Twitter reported a 40% year-on-year decline in revenue and adjusted earnings for December in an investor update. Last year, following the takeover, Musk highlighted the issues plaguing the financial health of the world’s largest microblogging platform.In addition, Musk has $13 billion in debt that he borrowed to finance Twitter’s purchase, totalling annual interest payments of about $1 billion. Recently, Musk made the first interest payment to a group of banks that lent him $13 billion.Musk has been trying hard to increase Twitter’s revenue and launched the paid subscription of Twitter Blue after an initial delay. However, it has not found many takers. Discover the stories of your interestET reported on February 10 that Twitter users in India — a
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