Tesla co-founder Elon Musk received a flood of criticism when he bought Twitter but his move appears to be paying off.
While many advertisers left X, contributing to a decline in total revenue, the company is more profitable now than it was before Musk took over.
The company brought in $5 billion in revenue in 2021, the last full year before Musk took over, and reported earnings before interest, taxes, depreciation and amortization (EBITDA) of $682 million, X recently reported to shareholders, according to The Wall Street Journal.
The company also reported that while X’s 2024 revenue was just more than half of pre-Musk levels at $2.7 billion, the EBITDA was nearly double what it was before Musk took over. X reported $1.25 billion in 2024 earnings. (RELATED: SEC Sues Elon Musk For Buying ‘Artificially Low’-Priced Twitter Stock. His Critics Agreed He Overpaid)
The company is…
