X CEO expects profitability in early 2024, says 90% of top 100 advertisers are back

X Chief Executive Officer Linda Yaccarino recently shared some updates about the social media platform. During an interview on Wednesday, Yaccarino stated that numerous advertisers returned to X in the past 12 weeks, and the vast majority of the company’s largest advertisers have come back. 

The X CEO was featured at Vox Media’s Code conference. Incidentally, the event also marked Yaccarino’s 100 days as CEO of the social media platform formerly known as Twitter. During her interview, the CEO highlighted that the changes in X are not comparable to any other company in the market. 

“The velocity of change and the scope of ambition at X really does not exist anywhere else,” Yaccarino said. She also noted that X will likely hit profitability in early 2024. “Now that I have immersed myself in the business, and we have a good set of eyes on what is predictable, what’s coming is that it looks like in early ’24, we will be turning a profit,” she said. 

X’s profitability is affected by the number of advertisers on the social media platform. Fortunately, it appears that the company is seeing a lot of its advertisers returning. Yaccarino noted that “90% of the top 100 advertisers have returned to the platform in the last twelve weeks alone” and that around 1,500 advertisers returned in the last 12 weeks. 

Yaccarino also highlighted that the time X users have spent on the platform has increased since June. This statement, however, was challenged by interviewer Julia Boorstin from CNBC, who pointed to claims from app analytics firm Apptopia, which had reported that X has lower user numbers since before Twitter went public, and that downloads of the social media platform’s app are down 30% in the two months after its rebrand. 

As noted in a Reuters report, Yaccarino also shared some of her thoughts on Musk’s conflicts with the ADL. Yaccarino stated that it was “disappointing” that the organization does not seem to be acknowledging the progress and work that the social media company has made to increase its safety. The CEO noted during the interview that X is aiming to make its platform safer, partly through new content moderation tools, among other initiatives. 

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X CEO expects profitability in early 2024, says 90% of top 100 advertisers are back
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