California (TDI): September 2024 saw some income growth for X (previously known as Twitter). As to App Intelligence’s estimations, X’s revenue climbed by 30% from Q2 to $30 million in September 2024.
When comparing X’s revenue from Q1 and Q2 of 2024, we can see it was exactly the same. That proves that Q3 was a profitable month for X.
Also read: Elon Musk to Achieve Trillionaire Status by 2027
The fact that a number of the advertisers have departed since Elon Musk took over the platform is one of the reasons why many people don’t understand how X is making this much money.
The straightforward response to this query is that X has converted several users into subscribers and has made some of its services paid for. This sets X apart from other social media apps and is the source of X’s income from app sales.
Even yet, X is not making nearly as much money as applications that followed it and made parts of its features paid for, like Snapchat. After Q3, Snapchat brought in $100 million.
Also read: Elon Musk’s Leadership Effects on X Value
There will be an increase in the use of X as US election days get closer. Thus, X’s revenue may increase even further in 2024’s fourth quarter. So let’s see if X maintains its current momentum.
