this post was submitted on 25 Nov 2023
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387
X may lose up to $75 mln by year-end on advertiser exodus - NYT (www.reuters.com)
submitted 11 months ago by [email protected] to c/[email protected]
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[–] [email protected] 12 points 11 months ago (1 children)

They have a billion of loan payments due each year. In order to pay that, someone has to come up with cash. Having a business that actually generates a profit would be the ideal way to do that.

[–] [email protected] -4 points 11 months ago (1 children)

My point is that $75 million isn't a significant amount either way at the scale that X is operating on.

[–] [email protected] 2 points 11 months ago

Their ad revenue had already been rapidly shrinking. They brought in about 1.5 billion from advertising in 2021. After Musk gutted the company, while I'm sure expenses are lower, advertising revenue has already dropped by 70-55% depending on which source you go by. So, a generous guess is $750 million now, which would make $75 million 10%, and that is a significant drop.