Anurag Kumar
Elon Musk announced on Friday that the number of monthly users of social media platform X, formerly known as Twitter, has attained a “new high” and shared a graph depicting the most recent figure of over 540 million.
Musk’s post on X about user numbers comes as the company undergoes organisational changes and encounters competition from Meta Platforms’ newly launched Threads app.
In May 2022, Twitter had 229 million monthly active users, according to a statement issued prior to the acquisition.
Under Musk, X has undergone a series of product modifications and staff reductions in an effort to increase revenue.
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Musk stated earlier this month that X’s cash flow remains negative due to a nearly 50% decline in advertising revenue and a heavy debt load, falling short of his March prediction that the social media platform would achieve positive cash flow by June.
