X will return to profit in 2024, CEO Linda Yaccarino claims

The CEO of X, formerly Twitter, Linda Yaccarino, has claimed the social media platform will be profitable by early 2024. Yaccarino made this claim at the Code Conference.

Yaccarino made similar statements over few months since she became CEO. In August, she said on CNBC that X was “pretty close to break even” in terms of operational run rate.

Yaccarino claims X was seeing an influx of advertisers again as “90% of the top 100 advertisers have returned to the platform in the last twelve weeks alone.”

Yaccarino also added that the time users spend on X has gone up since June.

Yaccarino’s claims about user engagement is in stark opposition of data from app analytics firm Apptopia, as CNBC’s Julia Boorstin pointed out at the Code Conference.

Apptopia recently reported that X downloads are down 30% in the two months after its rebrand from Twitter. Apptopia also reported decreased web traffic to X, and lower user numbers since before Twitter went public.

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