X CEO Linda Yaccarino has disclosed that the company will be profitable by early 2024.
“Now that I have immersed myself in the business, and we have a good set of eyes on what is predictable, what’s coming is that it looks like in early ’24, we will be turning a profit,” Yaccarino said on stage at the Code Conference.
That’s a huge claim, especially for a business Elon Musk only acquired a year ago and which has battled to maintain profitability over the course of its first 13 years of operation. But these remarks are in line with what Yaccarino has already said in the short months since she took over as CEO.
X was “pretty close to breakeven” in terms of operational run rate, she claimed on CNBC in August. She claimed that X usage was at an all-time high in a memo that was leaked in July.
On stage today, Yaccarino said that “90% of the top 100 advertisers have returned to the platform in the last twelve weeks alone.”
X has reduced its workforce from 8,000 to roughly 1,500, X also slashed spending; meanwhile, laid-off workers are still waiting for severance pay. Additionally, X is being sued repeatedly for failure to pay rent for office space across numerous nations.
