Sophie Blake
X CEO Linda Yaccarino said on Wednesday that the Musk-owned social media platform is “just about break even” and could turn a profit in early 2024. She spoke at the Code Conference in Orange County, Calif., in an interview with CNBC reporter Julia Boorstin. The appearance at Vox Media’s Code conference comes as she marked 100 days as CEO of the company.
In the past 12 weeks, 1,500 advertisers have returned to X, formerly known as Twitter, and 90% of the platform’s top 100 advertisers have done the same, Yaccarino said. “The velocity of change and the scope of ambition at X really does not exist anywhere else,” she added.
In July, Elon Musk had said Twitter’s cash flow is still negative because of a 50% drop in the company’s advertising revenue as well as its ‘’heavy debt load.’’
Using statistics showing a decline in X downloads and engagement, Julia Boorstin questioned Yaccarino about how she fit with the CEO’s perception of the business as well as daily active users of the platform.
Yaccarino claimed that X had more than 540 million users worldwide, although she frequently diverted the debate away from inquiries about exact numbers and toward statements about the company’s mission.
Last week, X gathered its first meeting with its new Client Council, led by Yaccarino, with the purpose of showing its advertising partners what’s coming next for the platform. During the meeting, X highlighted various new features, including long blog posts, making video calls, sending money to other users (although they didn’t show how this works), and letting creators have paid subscriptions.
Yaccarino was also questioned over her relationship with Musk, who maintains authority over the technical and product teams at X. When Boorstin questioned Yaccarino about the rumors that he is “CEO in name only,” Yaccarino said, “Not nice.” She added that she and Musk discuss everything and that he has always been encouraging.
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