Re:I am excited to welcome Linda Yaccarino as the new CEO of...
by afavour on Friday May 12, 2023 @01:32PM
(#35919296)
I haven't seen any official statements to that effect. This is from a month ago:
> Last November, General Motors Corp. (NYSE: GM) was among the first companies to announce pausing Twitter ads. Among those that took a similar path were General Mills, Inc. (NYSE: GIS) and Volkswagen AG’s Audi unit.
> Brands such as Mondelez International Inc. (NASDAQ: MDLZ), Coca-Cola Co. (NYSE: KO), Merck & Co Inc. (NYSE: MRK), Hilton Worldwide Holdings Inc. (NYSE: HLT) and AT&T Inc. (NYSE: T) have also not returned to Twitter in terms of advertising as of February, Bloomberg noted.
> Last month, Musk said that Twitter’s revenue had fallen by 50% since October because of a decline in advertising.
> Last November, General Motors Corp. (NYSE: GM) was among the first companies to announce pausing Twitter ads. Among those that took a similar path were General Mills, Inc. (NYSE: GIS) and Volkswagen AG’s Audi unit.
> Brands such as Mondelez International Inc. (NASDAQ: MDLZ), Coca-Cola Co. (NYSE: KO), Merck & Co Inc. (NYSE: MRK), Hilton Worldwide Holdings Inc. (NYSE: HLT) and AT&T Inc. (NYSE: T) have also not returned to Twitter in terms of advertising as of February, Bloomberg noted.
> Last month, Musk said that Twitter’s revenue had fallen by 50% since October because of a decline in advertising.
https://finance.yahoo.com/news/twitters-revenue-drops-advert...
Don't forget that the company also has to pay $1.5bn a year to service the debt Musk used to buy it.