![]() ![]() “That’s why he is laying people off.” Big advertisers have been fleeing the app amid Musk’s antics. “The interest expense is higher than the EBITDA,” a banker close to the deal said. That’s more than Twitter’s typical yearly yield of $1.2 billion in earnings before interest, taxes, depreciation and amortization, or EBITDA - a key measure of profitability used by Wall Street. Specifically, Twitter will be forced to pay interest expenses on its nearly $13 billion in new loans that will amount to $1.3 billion per year, one banker close to the situation said. While the struggling social network posted a modest loss last year, interest payments on the massive trove of debt that Musk used to finance the $44 billion buyout deal will unleash a torrent of red ink at the struggling social network in the coming year, sources close to the situation said. Paul Gosar ripped for tweeting ‘Russia is not our enemy’Įlon Musk’s drastic decision to lay off half of Twitter’s workforce on Friday was driven by the company’s dire finances - with the now-private company on track to lose $700 million in 2023 if he hadn’t slashed costs, The Post has learned. Supreme test in ‘terror-death posting’ case: Can Big Tech be blamed?Īriana DeBose becomes a meme after ‘cringe’ BAFTA performance We must end the lethal loophole of Section 230
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