The senior engineering manager of Twitter's ad business told staff yesterday that Twitter's ad revenue is down 40% from last year, according to The Information. Siddharth Rao also shared the good news that over 500 former top advertisers have paused advertising on the fake free speech platform.
In other good news, Qlon's Twitter failed to meet revenue targets last quarter. From Twitter is Going Great:
This was followed up today with a presentation by Twitter ad executive Chris Riedy telling the company that "Twitter brought in $1.025 billion in revenue, which was just 72% of the company's internal goal for the quarter… Before Musk took over Twitter in October 2022, the company's revenue was 98% of its initial projections."
What will Musk screw up next? Stay tuned for tomorrow's exciting episode of The Misadventures of Space Karen!