SpaceX Earnings Reveal X's Incredible Shrinking Ad Biz

While SpaceX's most recent earnings report barely mentions X -- the social media platform previously known as Twitter -- it is clear that the company's advertising revenue has fallen hundreds of millions of dollars since Elon Musk took over in 2022. Tucked into SpaceX’s “AI Segment” category, X’s second-quarter ad earnings were $367 million between April and June of this year. While this number is an improvement over the previous quarter ($343 million), prior to SpaceX becoming a publicly traded company, it marks an $83 million year-over-year decline. X's current quarterly ad revenue has dropped even more drastically compared...