Elon Musk Elevates Twitter: Break Even Possible in Q2 2023
This guy knows how to run companies: “Twitter Inc. may break even on a cash-flow basis in the second quarter and has a shot at even going positive, according to owner Elon Musk. The company has been working on making its advertising more relevant, said Musk, speaking at a Morgan Stanley conference in San Francisco on Tuesday. Musk, who bought Twitter last year for $44 billion, emphasized that Twitter’s debt burden after the deal is quite high and the cost of servicing the debt is around $1.5 billion annually, about equivalent to its current cash burn rate.”
Musk, meanwhile, said Tuesday that Twitter is on track to break even in the second quarter. However, dealings with regulators on both sides of the Atlantic could derail these projections. In Europe, officials reportedly want Musk to hire more staff to moderate content.