Twitter on Track to Break Even Financially in 2023, Elon Musk Says
Twitter is on a path to financially break even this year, Elon Musk said in a Feb. 5 tweet, as the company implements several measures to boost declining revenues.
The comment followed a December 2022 statement by Musk that he was optimistic about the company’s cash flow this year.
“Last 3 months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. Wouldn’t wish that pain on anyone,” Musk wrote. “Twitter still has challenges, but is now trending to breakeven if we keep at it. Public support is much appreciated!”
In November 2022, Musk said Twitter was losing more than $4 million per day, and that was one reason for laying off a large number of employees in October 2022, along with slashing many corporate perks, including free lunches, home internet, day care, wellness programs, and training and development to rein in costs….