Last year, it was Twitter; now it sucks even more!
It seems that Xitter CEO Linda Yaccarino's magic is rubbing off on her underlings, one of whom pretty much repeats her magical thinking about the business word for word. Remember when, among many other embarrassing moments, CEO Yaccarino used one of the worst branding exercises in history to deny having worked at Twitter? The same magical thinking is happening around their revenue numbers: can't be down if we weren't here last year!
Ad sales on X are reportedly about about a half billion lower than anticipated for 2023.Bloomberg cites unnamed sources in this report about how much ad revenue has dropped for the platform formerly known as Twitter as its CTO continues to drive advertisers away, saying it's on track for $2.5 billion this year despite internal targets for $3 billion.
X generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, according to a person familiar with the numbers. That compares to more than $1 billion per quarter in 2022.The X head of business operations, Joe Benarroch, is quoted disputing the figures, claiming the sources "are not providing accurate and comprehensive details… We are not Twitter any longer and not measuring ourselves by old Twitter metrics — both in revenue and user metrics."
You guys have magically made it worse.
Verge
They can claim user numbers are up as X had zero users last year!
