Elon Musk-owned X could be profitable next year, CEO says

About 1,500 advertisers have returned to the platform in the past 12 weeks, according to Linda Yaccarino

The X sign atop the company headquarters, formerly known as Twitter, in downtown San Francisco. Since Mr Musk acquired the social media company in October, X has struggled to retain advertisers. AP

Social media platform X could turn a profit in early 2024, chief executive Linda Yaccarino said on Wednesday, during a wide-ranging interview in which she defended the company's progress under billionaire owner Elon Musk.

The appearance at Vox Media's Code conference comes as Ms Yaccarino marked 100 days as chief executive of the platform formerly known as Twitter.

She has faced questions over her autonomy in the role and the company's ability to court advertisers who have been wary of the rapid changes on the platform and Mr Musk's controversial persona.

"The velocity of change and the scope of ambition at X really does not exist anywhere else," Ms Yaccarino said.

When asked about third-party estimates that showed X's active app users have fallen to 25th place behind Samsung's clock app, Ms Yaccarino said key metrics around time spent on X were "trending very, very positively," without providing specifics.

Ms Yaccarino added that about 1,500 advertisers have returned to the platform in the past 12 weeks, and that 90 per cent of the company's top 100 advertisers have returned.

While she said the company could be profitable next year, X is also facing a number of lawsuits that allege it has failed to pay rent on its offices and millions of dollars in severance to thousands of employees who were laid off.

Since Mr Musk acquired the social media company in October, X has struggled to retain advertisers who feared appearing next to unsuitable content, as researchers and activist groups have reported an increase in hateful posts.

anti-Semitic content on X has been a focus in recent weeks. Earlier this month, Mr Musk threatened a lawsuit against the Anti-Defamation League, accusing the non-profit that works to fight anti-Semitism of primarily causing a 60 per cent decrease in US ad revenue at X.

Mr Musk's comments came just days after Ms Yaccarino met with the ADL.

Asked on Wednesday about the issue, Ms Yaccarino said it was "disappointing" that the organisation did not acknowledge the progress that X has made on safety.

Earlier in the interview, she said X introduced new content moderation tools and features to prevent ads from appearing next to certain content, which hadn't existed before the acquisition.

Ms Yaccarino also defended Mr Musk's right to speak out on the platform.

"Freedom of speech is only successful if someone you disagree with says something you disagree with."