Twitter ad revenue declines

Twitter's U.S. ad revenue for the five weeks from April 1 to the first week of May was $88 million, down 59 percent from a year earlier, according to the New York Times. Elon Musk recently said Twitter’s ad business was on the rise, saying “almost all advertisers are back,” adding that the social media company could soon be profitable. But Twitter’s U.S. ad revenue for the five weeks from April 1 through the first week of May was $88 million, down 59 percent from a year earlier, according to the New York Times, citing internal documents. The document noted that the company regularly underperforms on weekly U.S. sales, sometimes by as much as 30 percent. That performance is unlikely to improve anytime soon, according to the documents and seven current and former Twitter employees. The report said the company’s performance is not expected to improve anytime soon, and there is concern that advertisers could reduce advertising amid rising hate speech and pornography. The document shows that the company is forecasting U.S. ad revenue this month to be down at least 56 percent each week from a year ago.