Adds more comments, contexts
April 12 (Reuters) – Twitter Inc CEO Elon Musk said on Wednesday the social media company is “roughly breaking even,” as most of its advertisers have returned.
He made the comments in an interview with BBC broadcast live on Twitter Spaces that attracted more than 3 million listeners.
Twitter has been hit by a massive decline in advertising since Musk acquired the company for $44 billion in October.
Musk had said that was due to the cyclical nature of ad spending and some of which was “political.” He said on Wednesday most of its advertisers have since returned.
Musk said Twitter has about 1,500 employees now, a sharp decline from around 7,000 workers before his acquisition.
Concerns over Twitter’s stability have been widespread since the Musk deal. Among the mass exodus were many engineers who were responsible for fixing and preventing service outages, sources told Reuters.
(Reporting by Akriti Sharma; Editing by Jacqueline Wong and Christian Schmollinger)
((miyoung.kim@thomsonreuters.com; 65 6870 3026; Reuters Messaging: miyoung.kim.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Extending their losing streak to the third consecutive trading session, shares of Jio Financial Services…
Target: ₹870CMP: ₹759.55Indian Railway Catering and Tourism Corporation (IRCTC) reported strong growth (15 per cent/10…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories…
The Reserve Bank of India (RBI) has removed the regulatory restrictions imposed on Kotak Mahindra…
Power Finance Corporation (PFC), on Wednesday, announced a 23 per cent increase in its consolidated…
The Valley of Kashmir at the peak of its peak winter season witnessed above- normal…