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Comment by EA-3167 | Hacker News Reader

In addition to what Flutas already posted https://www.nytimes.com/2023/06/05/technology/twitter-ad-sal...

> But Twitter’s U.S. advertising revenue for the five weeks from April 1 to the first week of May was $88 million, down 59 percent from a year earlier, according to an internal presentation obtained by The New York Times. The company has regularly fallen short of its U.S. weekly sales projections, sometimes by as much as 30 percent, the document said.

> That performance is unlikely to improve anytime soon, according to the documents and seven current and former Twitter employees.

If that isn't abject failure, what is?

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I should have clarified I'm looking for user engagement numbers, not stock price. There are dozens of Tech stocks that have had prices slashed: https://www.cnbc.com/2022/03/07/here-are-10-of-the-worst-per...

>If that isn't abject failure, what is?

Users fleeing the platform and no longer providing revenue would be abject failure. Companies pausing advertisement dollars as rates rise and tech generally having a tumultuous time in the market isn't an "abject failure".

advertising revenue isn't stock price

and advertising revenue isn't profit

Waterloo baby, it's their Waterloo. Woa Woa Woa.

If that isn't abject failure, what is?

Musk apparently laid of massive numbers of engineers, each news story seemed to grow the tale.

If he laid off 50% of engineers, and the highest paid ones at that, I'd say profits would be up, or at least the same, even with that drop in revenue.

I wonder what the true story is, re: profit, and without any tax savings writedowns / earning reports in rhe mix.

> I'd say profits would be up, or at least the same

Unfortunately, even if that is the case, there's $1B of debt servicing per year which wipes that completely out.

Even in what I think was Twitter's best year, they only made $580M profit (which ended up being a $220M loss because of an $800M settlement) - and that included a much better ad revenue situation, etc.

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