Twitter, revenues down: down 35 percent in last three months

Twitter ended the last quarter of 2022 with a 35 percent revenue loss, according to The Information. Meanwhile, more than 500 investors have stopped advertising on the platform.
Twitter closed the last quarter of 2022 with declining revenues. This is precisely the period of Elon Musk’s management, who formally acquired the company on October 27 last year. As you know, Twitter is now a private company and quarterly accounts are no longer made public. These figures were reported by The Information after they had a chance to view the reports and read the notes of Chris Riedy, Sales and Marketing at Twitter.
And the numbers say that in the last quarter of 2022, Twitter posted a 35 percent drop in revenue compared to the same period the previous year. An obvious decline that shows us what the outcome of Elon Musk’s management of the Twitter company is.
Twitter, in practice, reported revenue of $1.025 billion, which is just 72 percent of the company’s internal target for the latest 2022 fiscal quarter. Information that was extrapolated from a slide shown by Riedy to his staff.
According to reports in The Information, before Musk took over as Twitter’s CEO in October 2022, the company’s revenue was 98 percent of initial projections, as Riedy himself said during the results presentation meeting.

Wanting to make a minimum comparison, the last public quarterly, the one at the end of July 2022, revenue had been $1.18 billion versus $1.32 billion.
Now, last Tuesday, and there has been a lot of talk about this on social media and elsewhere, Twitter’s daily revenue was 40 percent lower than on the same day a year ago.
A trend, this one, that if it were to be confirmed, the company’s first quarter revenue could drop to about $720 million. And, apparently, the numbers provided by Riedy seem to confirm this trend. Although, according to internal forecasts, they aspire to reach $732 million.
The forecast, unfortunately, for Twitter is not rosy. In fact, there are now more than 500 Twitter advertisers who have stopped investing in advertising on the platform since Elon Musk took control of the company.
To this must be added that American publishers are also reviewing their position on Twitter. The American Press Institute recently surveyed 50 newsrooms, and these interviews showed that 67 percent did not intend to pay to maintain or add verified accounts on Twitter; 28.3 percent said they were not sure about the new management, and only 4.3 percent said they would pay.
When asked if they intended to continue using Twitter as a distribution platform, 59% said they would use it in much the same way, while 20.5% said they plan to use it less.
In short, from what we can glimpse, Twitter’s economic-financial scenario is far from rosy, and in some ways, these are data that are not surprising, on the contrary. These are data that confirm what was quite easy to predict.
In this situation, to think that Twitter Blue, of which they are even beginning to offer annual subscriptions at $84, can turn around the company’s fortunes is a pretty tough thought.
At the moment, pe what are the actual conditions, it is difficult to think that the paid mode through Twitter Blue can push users to subscribe. Very difficult because of how the platform is perceived today and how it has been managed.
Twitter has not reached the end of its days, but certainly a clear, inclusive, and secure model is needed to seriously try to grow.

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