Twitter is still spending more money than it’s making, according to Elon Musk. In the early hours of Saturday morning, the billionaire tweeted the company was suffering from an ongoing negative cash flow issue due to an approximately 50 percent drop in advertising revenue and heavy debt burden. “Need to reach positive cash flow before we have the luxury of anything else,” Musk said.
We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else.