Twitter owner Elon Musk has claimed that the microblogging site is close to being cash-flow positive.
At the Morgan Stanley conference in San Francisco, Musk predicted Twitter breaking even on a cash flow in the second quarter, adding that there’s a chance it could even be cash-flow positive.
Musk acquired Twitter for $44 billion last October. He proceeded to slash costs at every level, using massive layoffs.
Last week, Twitter reported its ad revenue plunged 40% in December. Also, Twitter has been plagued by high-profile technical glitches and outages in recent months. Twitter also faces about $1.5 billion in annual interest payments on the $13 billion in debt borrowed when Musk took the company private last year.
