Elon Musk's Twitter Revenue in India Dips by 90%: A Deep Dive
Thursday, 24 October 2024, 03:55
Elon Musk's Twitter Revenue Decline
In a dramatic turn of events, Elon Musk's Twitter has seen its revenue plummet by 90% in India. Recent regulatory filings indicate that the revenue dropped to $2.51 million for the financial year ending March, compared to $24.7 million the prior year.
Expense Cuts
- The company has also significantly cut its expenses in India, slashing them from $20 million to $2.2 million year-over-year.
- This adjustment underscores the financial challenges faced by Musk's social media venture in a competitive market.
Further Implications for the Industry
This decline in revenue raises questions about Musk's strategy in the Indian market, indicating greater regulatory obstacles and intense competition from other platforms. How Musk navigates this situation will be crucial for the future of Twitter in India.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.