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The Guardian - UK
The Guardian - UK
Technology
Ben Quinn

X’s UK profits collapsed the year after Elon Musk’s takeover

Elon Musk X United Kingdom United States Twitter Inc. Companies House
Elon Musk
Elon Musk at a US cabinet meeting last week. He took over Twitter in 2022, and later rebranded it as X. Photograph: ABACA/REX/Shutterstock

X’s revenues and profits collapsed in the UK in the year after Elon Musk took over the social media platform, the company has admitted.

A decline in advertising spending amid concerns about “brand safety and/or content moderation” were cited as the reason for the fall, according to accounts filed this week to Companies House.

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