"The social network, formerly known as Twitter, posted about $707 million in revenue in the three-month period through June 30, a 2.2% drop compared to the first three months of the year, according to people briefed on the numbers. The popularity of AI, as well as broader trust in Musk's vision, seems likely to keep things rolling for now, regardless of X's own performance. But it is worth noting the precariousness of X Corp in general, even as it spends big on AI projects."
"The social network, formerly known as Twitter, posted about $707 million in revenue in the three-month period through June 30, a 2.2% drop compared to the first three months of the year, according to people briefed on the numbers. The popularity of AI, as well as broader trust in Musk's vision, seems likely to keep things rolling for now, regardless of X's own performance."
X posted about $707 million in revenue for the three-month period through June 30, a 2.2% decline from the prior three months. The revenue drop indicates a modest quarter-on-quarter contraction even as the company pursues new initiatives. Popularity of AI and broader trust in Elon Musk's vision appear likely to sustain interest and external support for the platform in the near term. X Corp is allocating significant resources to AI projects and continues to invest heavily in that area. Despite AI-driven momentum and high-profile leadership, X Corp remains financially precarious overall.
Read at Social Media Today
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