X, the company formerly known as Twitter, is close to breaking even, according to CEO Linda Yaccarino. In her first broadcast interview since taking on the role, Yaccarino said that the company is “on track” to profitability in 2023.
Yaccarino attributed the company’s financial turnaround to a number of factors, including increased advertising revenue and cost savings. She also said that X is making progress on its plans to grow its user base and engagement.
“We’re making great progress on our mission to serve the public conversation,” Yaccarino said. “We’re investing in new products and features, and we’re making it easier for people to connect with the information and people they care about.”
The news of X’s financial turnaround is a positive sign for the company, which has been struggling financially in recent years. In 2022, X lost $2.2 billion. However, the company’s revenue has been growing steadily in recent quarters, and Yaccarino said that she is confident that X will be profitable in 2023.
The success of X is important for Elon Musk, who acquired the company in October 2022. Musk has said that he wants to make X a more profitable and user-friendly platform. He has also said that he wants to make X a more open and free platform for speech.
The success of X will also be important for the tech industry. X is one of the largest social media platforms in the world, and its success or failure could have a significant impact on the industry.