Twitter revenue falls by 40% year-on-year in December

MOSCOW: Twitter’s revenue and adjusted earnings in December 2022 decreased by about 40 per cent compared to December 2021 after advertisers refused to work with the social network, reported Sputnik.

The Wall Street Journal reported on Saturday, citing sources, that the refusal of advertisers is associated with the acquisition of the social network by SpaceX and Tesla owner Elon Musk.

In late October, Musk finalised the US$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. – Bernama