X in 2024 Doubled Highest Yearly Twitter Profits

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X in 2024 Doubled Highest Yearly Twitter Profits

//science-technology.news-articles.net/content/2 .. 2024-doubled-highest-yearly-twitter-profits.html

Published in Science and Technology on Thursday, February 6th 2025 at 14:22 GMT by NextBigFuture
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Advertisers all returned to X (previously Twitter) a few months before the November 2024 election. 2024 X profits were $1.25 billion which was about double

The article from NextBigFuture discusses the financial performance of X Corp in 2024, highlighting that the company, under Elon Musk's leadership, doubled its highest yearly profits from Twitter, now known as X. Despite facing challenges like a significant drop in advertising revenue and increased debt servicing costs, X Corp managed to achieve this through cost-cutting measures, including substantial layoffs, and by expanding into new revenue streams such as subscription services and payments. The article also notes that X's valuation has been a point of contention, with Fidelity marking down its investment significantly, yet Musk remains optimistic about the platform's future, aiming to transform it into an "everything app" similar to WeChat. Additionally, the piece touches on the broader implications of these financial maneuvers, including regulatory scrutiny and the potential for further growth through innovative features and services.

Read the Full NextBigFuture Article at:
[ https://www.nextbigfuture.com/2025/02/x-in-2024-doubled-highest-yearly-twitter-profits.html ]

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