Twitter's cash flow is still negative because of a nearly 50% drop in advertising revenue. Twitter is not making enough money. The company's money coming in is not enough to cover the money going out. This is because Twitter's money made from ads has dropped by almost half and the company owes a lot of money. Elon Musk had hoped that Twitter would be making enough money by June, but that did not happen.
He said this in a tweet when someone suggested that Twitter should raise more money. Elon Musk said that Twitter did not get as much money from ads in June as they were hoping for. He said that July is looking a little better.
Elon Musk's cost-cutting measures have not made Twitter profitable yet. Twitter's ad revenue is still not as high as it was before Musk het the company. Musk said in April that most advertisers had returned to Twitter, but it seems that this is not the case.
Elon Musk said that Twitter has cut its costs by laying off employees and reducing its cloud service bills. Twitter still has to pay $1.5 billion in interest payments every year because of the debt it took on when Musk obtain the company.
It is not clear when Elon Musk said that Twitter's ad revenue dropped by 50%. He states that Twitter is expected to produce $3 billion in revenue in 2023 which is declining from $5.1 billion in 2021.
Twitter has been criticized for not letting up content well and many advertisers have stopped advertising on the platform because they don't want their ads to appear next to unprofessional content.
Elon Musk hired Linda Yaccarino, who was the head of advertising at NBCUniversal, to be the CEO of Twitter. This shows that Musk wants Twitter to make more money from ads, even though he is also trying to increase subscription revenue.
Linda Yaccarino started working at Twitter in early June. Twitter will focus on video, content creators, and partnerships with businesses. She is also talking to political and entertainment figures, payments services, and news and media publishers. Twitter will share ad revenue with content creators. This is a try to attract more content creators to the site.