Ad revenue is down 40% from $5B in 2021 to a projected $3B in 2023. For reference, most other social media ad companies have had flat or slightly negative (~2%) revenue growth.
https://www.marketingbrew.com/stories/2023/04/12/twitter-s-a...
https://www.statista.com/statistics/271337/twitters-advertis....
https://variety.com/2023/digital/news/snap-q4-2022-earnings-...