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Twitter isn’t collapsing, but it’s hardly more profitable. In fact, the last numbers we know about them show >50% drop in revenue.
by cmdli 1y ago
Twitter isn’t collapsing, but it’s hardly more profitable. In fact, the last numbers we know about them show >50% drop in revenue.
- missedthecue 1y agoI don't think you're right. During its last fiscal year on the stock market, Twitter reported a net loss of $221 million. We don't have exact insights to X.com's books, but we have credible reports from the Financial Times that they produced over a billion dollars in ebitda in 2024. This is completely possible with a 50% revenue drop. They laid off 80% of the company, something like 6,000 people.
- cmdli 1y agoThe reports I have seen have shown significant decreases in revenue, from around $5B in 2021 to $2.5B in 2024: https://www.businessofapps.com/data/twitter-statistics/ https://www.businessofapps.com/data/twitter-statistics/ I’m not sure about profit, but I do know that Twitter made $1.4B in profit in 2019 according to their SEC filings.
- fair_enough 1y agoI follow Charlie Munger's advice and substitute the phrase "bullshit earnings" anywhere I see mention of EBITDA. If the GAAP income is negative, the company lost money last year. End of story.