Elon Musk says Twitter is still losing money due to 'heavy debt' and sliding advertising revenues
Elon Musk said Twitter was still losing money, blaming a"heavy debt load" and sliding advertising revenue.replying to a user who suggested Musk get a consortium together to buy Twitter's debt, he bemoaned the company's uncomfortable financial position.
"We're still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load," Musk tweeted."Need to reach positive cash flow before we have the luxury of anything else."Musk's made sweeping changes to Twitter since paying $44 billion to buy it last October, including cutting aboutStill, Musk faces a steep uphill battle to make the firm profitable.
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