Twitter's U.S. Ad Sales Down 59% Despite Musk's 'Breaking Even' Claims, Report Says

Topline Twitter’s revenue from U.S. advertising in April was down 59% from the previous year, the New York Times reported Monday, after major advertisers left the social media platform following billionaire Elon Musk’s takeover—though Musk claimed two months ago the site was “breaking even.” Twitter ad revenue has taken a significant hit since Elon Musk took over the company.Getty Images Key Facts Twitter made $88 million in U.S.-based advertising sales during a five week period starting April 1, down 59% from April 2022, the Times reported, citing an internal presentation and seven Twitter employees. The social media company estimates its U.S. ad revenue will be down at least 56% each week in May, compared to last year, per the Times. Twitter’s global ad revenue this year is estimated to be 28% lower than it was in 2022, at around $3 billion, according to research firm Insider Intelligence, as Twitter’s top 50 advertisers are spending markedly less since Musk took over the company in October. Contra Musk said during an interview in mid-April Twitter was “roughly breaking even,” adding that the advertisers who had left the platform following his acquisition had since returned. At a Wall Street Journal summit in May
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