Twitter owner Elon Musk has conceded in a Twitter Space that company revenue has been cut nearly in half since he took ownership last year.
The admission Monday came during a conversation, hosted by Mr. Musk, with Democratic presidential hopeful Robert F. Kennedy Jr. Mr. Musk said it has been a struggle for Twitter to break even after several high-profile advertisers pulled out of Twitter. He attributed the loss to vindictive companies who oppose free speech.“I don’t care how much it costs or what it takes … If we lose free speech we lose democracy,” he said.
According to new reports, however, Twitter’s advertising revenue is down more than 50% from where it was at the same time last year. In April, Twitter recorded $88 million in advertising revenue, down 59% from the year before.
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