Last Updated: September 28, 2023, 14:15 IST
San Francisco, California, USA
X CEO has confirmed this positive update
X Corp chief has shared the update this week where she also talks about the interest of advertisers in the platform as the user base grows.
X Corp chief has confirmed that X, formerly Twitter will turn profitable by next year. X CEO Linda Yaccarino has asserted that the company will be profitable by early 2024, adding that the platform may now have 200-250 million daily active users.
Speaking at the Code conference late on Wednesday, she said that since I have now immersed myself in the business, “we have a good set of eyes on what is predictable” and “what’s coming is that it looks like in early 2024, we will be turning a profit”.
Yaccarino said that “90 per cent of the top 100 advertisers have returned to the platform in the last 12 weeks alone.” She said that about 1,500 advertisers have returned to the platform.
X (formerly Twitter) has yet to announce an annual profit in its 13 years and has struggled to maintain profitability. She, however, did not confirm if the company plans to charge all users on X, as suggested by its billionaire owner Elon Musk.
Yaccarino also disputed a report that X was disassembling its election integrity team.
She said that X is expanding its work to combat platform manipulation and disinformation overall, reports The Verge.
“It’s an issue we take very seriously. And contrary to the comments that were made, there is a robust and growing team at X that is wrapping their arms around election integrity,” the Twitter CEO told the audience.
X Corp is also planning to roll out audio and video calls to premium, subscription-only users. In August, Yaccarino claimed that X is on the verge of breaking even after it went through a massive churn in the last few months including huge layoffs and several platform changes.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – IANS)
