Twitter hit by 40% revenue drop amid ad squeeze, say reports

Twitter hit by 40% revenue drop amid ad squeeze, say reports

More than 500 advertising clients have reportedly paused spending since Elon Musk’s takeover in October

Twitter remains in the grip of an advertising squeeze, with the social media platform hit by a 40% drop in revenue after more than 500 clients paused their spending, according to reports.

The company’s daily revenue was down 40% year-over-year, the tech newsletter the Platformer reported, while the news site the Information said staff were told more than 500 of Twitter’s top advertisers had halted spending since Elon Musk bought it in October.

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