[gregshap]

Yes adjusted earnings in this case is most likely something like "Adjusted EBITDA" so interest cost is adjusted out by definition, and they may also adjust out things like severance payments (if they are actually paying them).

[blitzar]

"Adjusted EBITDA" is what I assumed as well - no interest, no restructuring costs etc.

Given revenue ~= costs at twitter the head count reduction (~80% and including all the really fat cats at the top) & reduction in expensive microservices, benefits, free meals etc has shaved only 40% off the costs.