Twitter’s earnings and revenue in December dropped about 40% from the previous year, The Wall Street Journal reports(Opens in a new window), citing "people familiar with the matter." Twitter is currently faced with annual interest payments estimated at over $1 billion. Per the Journal, some of the company’s debt carries an annual interest rate of almost 15%. Despite the earnings troubles, Musk tweeted in February that he expects Twitter’s finances to improve and for the company to ultimately break even this year. “Twitter still has challenges, but is now trending to breakeven if we keep at it," he said at the time.

Source: Wall Street Journal March 05, 2023 22:09 UTC