Twitter is losing money and its ad revenue is down 59%, reports CNN, based on remarks by proprietor Elon Musk and an internal presentation it has seen.
The billionaire owner tweeted Saturday, in response to business advice from a follower, "Need to reach positive cash flow before we have the luxury of anything else."
The tweet is in stark contrast to his tone in April, when Musk told the BBC the platform is now "roughly breaking even" and that most of its advertisers have returned.
Ad revenue has been a contentious issue and an uphill battle for the site, after hordes of advertisers fled after Musk took over.Advertisers were concerned about content moderation, mass layoffs and general uncertainty about Twitter's future.
Ads for chewable viagra aren't paying the bills, but that's fine, because Twitter's not paying them either.
