Twitter Revenue Falls by 40 Percent Year-on-Year in December


Twitter
Twitter

Twitter’s revenue and adjusted earnings in December 2022 decreased by about 40% compared to December 2021 after advertisers refused to work with the social network, the Wall Street Journal reported on Saturday, citing sources.

The refusal of advertisers is associated with the acquisition of the social network by SpaceX and Tesla owner Elon Musk, the report noted.

In late October, Musk finalized the $44 billion acquisition of Twitter, a US company founded in 2006 and headquartered in San Francisco, California. Following the takeover, Musk changed the company’s day-to-day operations, including the termination of Twitter executives who were responsible for the platform’s privacy, cybersecurity and censorship, as well as about two-thirds of Twitter’s employees.

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