Monday, September 15, 2025

X Sees Over 50% Drop in US Revenue

It’s been almost two years since Elon Musk bought X, formerly Twitter, for $44 billion — and so much has happened since — but X appears ever farther from profitability.

Recent internal documents obtained by The New York Times reveal that in the second quarter of 2024, X’s US revenue dropped to $114 million, marking a 25% decline from the first quarter and a staggering 53% decrease compared to the previous year. 

The company aims to reach $190 million in US revenue for the third quarter, bolstered by advertising associated with major events like the Olympics and political campaigns. However, even if this target is met, it would still represent a 25% decrease from the same period last year.

In 2022, before Musk’s acquisition, Twitter generated $4.4 billion in revenue. This declined to approximately $3.4 billion in 2023, Musk’s first year at the helm.

While X has significantly reduced operating costs by cutting around 80% of its staff, the company is currently straddled with an additional annual burden of $1.2 billion in debt servicing costs resulting from Musk’s $44 billion purchase.

Historically, Twitter derived about 50% of its revenue from US users. Assuming this ratio still holds, X’s total global revenue for Q2 2023 could be estimated at around $230 million. This represents a continuation of the downward trend observed in Q1, which likely saw total revenue of about $287 million.

It’s not clear whether it’s because Musk told advertisers to go f*ck themselves, or if it’s because the platform is increasingly turning into an unmoderated, possibly censored (or manually promoted, depending on where you stand) cesspool, but X is in a bad financial place and there’s no light at the end of the tunnel yet in sight. 


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Tesla Profitability at Risk as Emissions Regulations Shift in Europe and US

EU would grant automakers a three-year window to meet carbon emissions...
Tuesday, March 4, 2025, 12:20:00 PM

Linda Yaccarino to Meet with X’s Lenders, Says Platform Should Turn Profit by 2024

Linda Yaccarino, the CEO of X, the platform formerly known as Twitter, is set to...

Friday, September 29, 2023, 04:28:00 PM

Elon Musk Pushed So Many People Away From Twitter That There Are At Least Two Studies About It

While the whole #TwitterMigration to Mastodon movement may not have been sustainable — for a...

Sunday, December 24, 2023, 09:39:06 AM

Elon Musk Resumes Selling Tesla Stock, Sees Gross Proceeds Of $1.05 Billion

After taking a breather for nearly a week, it appears Elon Musk is back at...

Wednesday, November 24, 2021, 07:33:24 AM

Is Musk Willing to Pay Millions to Transfer Tesla to Texas?

Tesla’s (NASDAQ: TSLA) CEO Elon Musk has announced plans to relocate the electric carmaker’s incorporation...

Monday, February 5, 2024, 02:15:00 PM