Musk’s Twitter Saw Revenue Drop 35% in Q4, Sharply Below Projections
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Musk’s Twitter Saw Revenue Drop 35% in Q4, Sharply Below Projections — The Information
Twitter’s fourth quarter revenue fell about 35% year over year to $1.025 billion, a top ad executive revealed at a staff meeting Wednesday, the most detailed sign yet of how much revenue has fallen. That was 72% of Twitter’s internal goal for the quarter, according to a slide showed to employees.
The executive, Twitter’s global sales and marketing chief Chris Riedy, also said the company is hoping to generate $732 million in revenue in the first quarter, which would be a drop of 39% from the first quarter of last year. That suggests Musk is hoping to prevent ad revenue from deteriorating any further. On Tuesday night, a senior Twitter manager told employees that the company’s daily revenue on Tuesday was 40% lower than the same day a year ago. That implied first quarter revenue would be about $720 million.
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