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Cake day: August 22nd, 2023

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  • Twitter became profitable for the first time in 2018 when it reported its first-ever net income of $1.2 billion for that year. This was followed by a second consecutive year of profitability in 2019, with total revenue of $3.4 billion and a net income of $1.4 billion, which was higher than expected by many analysts.

    Twitter was making money before Elon bought it… The numbers that get thrown around now about how much money it's losing are because Elon saddled the company with the debt from his leveraged buyout. The insane yet somehow legal strategy of making the company payback the loan for it's own purchase.