X, which was formerly known as Twitter, will be able to turn a profit by the year 2024, according to the company's Chief Executive Officer Linda Yaccarino. She confirmed of the same while speaking at Vox Media's Code conference, as she finished her 100 days at the company.
"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", Yaccarino said regarding the company's profitability.
"The velocity of change and the scope of ambition at X really does not exist anywhere else," she added.
When questioned about third-party estimations that indicated X's active app users had dropped to 25th place behind Samsung's clock app, Yaccarino stated that key indicators surrounding time spent on X were "trending very, very positively," without going into further detail.
In the past 12 weeks, 1,500 advertisers have returned to the platform, and 90 percent of the top 100 advertisers for the business have done the same, according to Yaccarino.
Yaccarino also tried to dodge a question at the conference about Elon Musk’s plans to charge a fee from all users of X for accessing the platform, by responding: “Did he say we were moving to it specifically, or he’s thinking about it?”
In its 13 years of operation, X (previously Twitter) has not shown an annual profit and has had difficulty staying profitable.
A claim that X was dismantling its election integrity unit was also denied by Yaccarino.
She claimed that, generally, X is stepping up its efforts to address platform manipulation and misinformation.