X (Formerly Twitter) Expects to Turn Profitable by Early 2024, Says CEO Linda Yaccarino

CEO Linda Yaccarino of X, formerly known as Twitter, has expressed confidence that the company will achieve profitability by early 2024, alongside potential growth to 200-250 million daily active users. Speaking at the recent Code conference, Yaccarino highlighted that her deep immersion in the business has provided insights into its future prospects, stating, “What’s coming is that it looks like in early 2024, we will be turning a profit.”

Yaccarino disclosed that a significant resurgence in advertiser engagement has played a pivotal role in X’s path to profitability. She noted that within the last 12 weeks alone, “90 per cent of the top 100 advertisers have returned to the platform,” with approximately 1,500 advertisers following suit.

Despite X’s 13-year history without announcing an annual profit and struggles with profitability, Yaccarino remains optimistic about the company’s financial outlook.

However, Yaccarino did not confirm whether X intends to charge all its users, as suggested by its billionaire owner, Elon Musk.

In addition, Yaccarino addressed reports claiming that X was dismantling its election integrity team. She emphasized that the company is expanding its efforts to combat platform manipulation and disinformation across the board, underlining its commitment to election integrity.

X Corp is also gearing up to introduce audio and video call features for its premium, subscription-only users in the near future.

In August, Yaccarino indicated that X was on the verge of breaking even, marking a significant turnaround after a period of substantial changes, including extensive layoffs and platform adjustments.