(Photo by Chris J. Davis on Unsplash)
(THE EPOCH TIMES) -- Twitter is dealing with a “heavy debt load” after losing about 50 percent of its advertising revenue, and that has resulted in the app having a “negative cash flow,” Elon Musk, the company’s owner, wrote on July 14.
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“We’re still negative cash flow, due to ~50 percent drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else,” Mr. Musk wrote on Twitter over the weekend.
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.
— Elon Musk (@elonmusk) July 15, 2023
He didn’t elaborate.
The post Twitter has 'negative cash flow' and 'heavy debt,' Musk reveals appeared first on WND.
