Musk Says Twitter Cash Flow Still Negative, Lifts Rate Limit
- He previously said Twitter could be cash-flow positive in Q2
- Twitter is facing new competition from Zuckerberg’s Threads
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Twitter owner Elon Musk said the company still has a negative cash flow because of its heavy debt load and a roughly 50% drop in advertising revenue.
The social media site will “need to reach positive cash flow before we have the luxury of anything else,” Musk said in a tweet. Separately, the billionaire announced late Saturday the platform will increase the number of tweets verified accounts can see each day by 50%, following complaints from users.