Musk’s X 2023 ad sales projected to slump to about $2.5 billion

Elon Musk’s X, the social network formerly known as Twitter, is on track to bring in roughly $2.5 billion in advertising revenue in 2023 — a significant slump from prior years, according to people familiar with the matter.

X generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, according to a person familiar with the numbers. That compares to more than $1 billion per quarter in 2022.