Twitter Chief Executive Elon Musk Said on Tuesday That The Company Had “a Shot” at Being Cash Flow-positive next Quarter, as the social media platform has been cutting.
MuskSpeaking at a Morgan Stanley Investor Conference that was webcast, said it was “starting” how poorly twitter managed to make money off its messaging service.
The company has reduced its non-debt expenditures to $ 1.5 billion (roughly Rs. 12,317 Crore) from a Projected $ 4.5 billion (Roughly Rs. Cloud services bill by 40 percent and closing one data center, musk said. Twitter has also laid off thirds of employers.
Musk, Who is also Ceo of Electric Car Maker TeslaAcquired Twitter For $ 44 billion (roughly Rs. 3,37,465 Crore) in October. The company also also faces annual interest payments of about $ 1.5 billion as a result of the debt it took on in the take-principal deal, musk said.
He added that Twitter has been hit by a “Massive decline in advertising,” Some of which he said he said was due to the cyclic nature of ad spending and some of which was “politics.”
Twitter has been marked by chaos and uncertainty since the acquisition by musk. On Monday, it sufred a bug that prevended thirds of users from accessing links, its sixth Major Outage SINCE SINCE SICE THE SICE THE SICE SINS SICE Netblocks,
Musk said in reference to monday’s outage that what had been intended as a small change to 1 percent of users ended up being a “catastrophic” Change for all. He added that enginers were doing a lot of “clean up” in general of the twitter software code.
Concerns Over Twitter’s Stability Have Been Widespread Since the Musk Deal. Among the mass exodus WHO WHO WHO WHO WHO WHO WHO WHO WHO WHO
The billionaire said he expected it would take a few years to build a management team at Twitter. Musk, who have decided scrutiny from Tesla Investors About The Amount of Time He Spends Running The Social Media Platform, Had Previous said the end of this year will be “good shift Executive to Run Twitter.
He also reiterated his plans to introduce payments on Twitter, and Said He Envisions Users Could Eventutically Send Money to Each Other With One Click.
“I think it’s possible to become the biggest financial institution in the world,” He said.
Making ads more relevant on the platform is another focus for the company, He said. Some advertisers have fled twitter due to uncertainty over how musk, who have called Himself a “Free Speech Absolutist,” Bold Approach Content Moderation.
The Financial Times Reported on Tuesday that European Union Regulators Told Musk to Hire More Content Modrators at Twitter in Order to Comply with an upcoming Law.
Musk said at tuesday’s morgan stanley event that bot democrats and republicans now trust twitter to the same degree. The platform had 253 million daily active users that were “monetizable” in the fourth Quarter, according to a slide displayed during the webcast.
Musk Said Twitter Currently Earns 5 to 6 Cents per hour with users spending a combined “130 million hours of their time per day” on the platform. He said the company could increase it to 15 to 20 cents.
© Thomson Reuters 2023