<p>Twitter Inc reported a drop of about 40% year-over-year in both revenue and adjusted earnings for the month of December, the Wall Street Journal reported on Friday citing people familiar with the matter.</p>.<p>The report comes after several advertisers slashed their spending on the social-media platform after Elon Musk took charge of the company on October 27, resulting in a 71% drop in advertising spend on Twitter during December, data from advertising research firm—Standard Media Index showed.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/twitter-to-sublease-new-york-city-office-space-as-ceo-elon-musk-cuts-costs-1196120.html" target="_blank">Twitter to sublease New York City office space as CEO Elon Musk cuts costs</a></strong></p>.<p>Twitter did not immediately respond to a <em>Reuters </em>request for comment.</p>.<p>Musk, who warned in November about the possibility of the Twitter going bankrupt, said in December that the company was on track to be "roughly cash flow break-even" in 2023.</p>.<p>Twitter made its first interest payment in January on a loan that banks provided to help finance billionaire Musk's purchase of the social media company last year.</p>
<p>Twitter Inc reported a drop of about 40% year-over-year in both revenue and adjusted earnings for the month of December, the Wall Street Journal reported on Friday citing people familiar with the matter.</p>.<p>The report comes after several advertisers slashed their spending on the social-media platform after Elon Musk took charge of the company on October 27, resulting in a 71% drop in advertising spend on Twitter during December, data from advertising research firm—Standard Media Index showed.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/twitter-to-sublease-new-york-city-office-space-as-ceo-elon-musk-cuts-costs-1196120.html" target="_blank">Twitter to sublease New York City office space as CEO Elon Musk cuts costs</a></strong></p>.<p>Twitter did not immediately respond to a <em>Reuters </em>request for comment.</p>.<p>Musk, who warned in November about the possibility of the Twitter going bankrupt, said in December that the company was on track to be "roughly cash flow break-even" in 2023.</p>.<p>Twitter made its first interest payment in January on a loan that banks provided to help finance billionaire Musk's purchase of the social media company last year.</p>