Many advertisers have abandoned social media platform.

Following the departure of several advertisers from the social media platform, Twitter Inc. announced a decline in revenue and earnings for the month of December.

Both revenue and adjusted earnings for the month were down nearly 40% year over year, according to the business.

Elon Musk spoke about the possible bankruptcy of Twitter.

Elon Musk, the company’s new owner, frequently mentioned the potential of Twitter going bankrupt in the months after the takeover. Nevertheless, last month, the billionaire indicated Twitter was striving to break even.

About the $12.5 billion loan that Musk utilized to privatize the business last year, the social media network has made the first interest payment.

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