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by missedthecue 258 days ago
I don't think you're right. During its last fiscal year on the stock market, Twitter reported a net loss of $221 million.

We don't have exact insights to X.com's books, but we have credible reports from the Financial Times that they produced over a billion dollars in ebitda in 2024. This is completely possible with a 50% revenue drop. They laid off 80% of the company, something like 6,000 people.
2 comments
cmdli 258 days ago
The reports I have seen have shown significant decreases in revenue, from around $5B in 2021 to $2.5B in 2024: https://www.businessofapps.com/data/twitter-statistics/

I’m not sure about profit, but I do know that Twitter made $1.4B in profit in 2019 according to their SEC filings.

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fair_enough 257 days ago
I follow Charlie Munger's advice and substitute the phrase "bullshit earnings" anywhere I see mention of EBITDA.

If the GAAP income is negative, the company lost money last year. End of story.

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