Elon Musk said that Twitter’s finances are improving to the point that the social media company could return to posting positive cash flow next quarter, as the chief executive attempts to cut costs, lure back advertisers and navigate the platform’s tech woes.
Speaking at a Morgan Stanley investor conference on Tuesday, Musk said that cash flow at the company he bought for $44bn last year would break even in the second quarter, adding that it might even become positive in that period.
He said Twitter’s costs were projected to run at about $3bn a year — including $1.5bn of interest payments on the $13bn of debt he used for the purchase — down from the $4.5bn he said the company would have otherwise incurred in 2023.
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