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Showing posts with the label financial performance

Elon Musk’s X Sees Significant Revenue Drop Post-Takeover

A Decline In Revenue: What Happened After Musk’s Takeover?     Elon Musk's acquisition of X, formerly known as Twitter, has resulted in a significant financial downturn for the social media giant. In 2023, Musk himself acknowledged that X's revenue was down, and recent reports confirm the extent of this decline. According to documents obtained by Bloomberg, X's revenues dropped by about 40% in the months following Musk's takeover. This article delves into the details of this revenue plunge and explores the factors contributing to the financial challenges faced by X under Musk's leadership. The Financial Impact: A 40% Revenue Plunge Bloomberg's report, based on regulatory filings, reveals that X generated $1.48 billion in revenue in the first half of 2023. This figure represents a steep decline from the $2.47 billion recorded in the first six months of 2022. Additionally, the documents show that X lost $456 million in the first quarter of 2023. Musk completed his

Nvidia Overtakes Microsoft And Apple As The Most Valuable Stock In The World

In a historic shift, Nvidia (NVDA) has surpassed Microsoft (MSFT) to become the most valuable company globally, just two weeks after overtaking Apple (AAPL) for the second spot.    This remarkable achievement highlights Nvidia's meteoric rise in the tech industry, driven by its strategic advancements in artificial intelligence (AI) and graphics processing. Nvidia's Rapid Ascent in Market Capitalization Nvidia's stock surged by approximately 3.5%, reaching over $135 per share, which pushed its market capitalization beyond $3.33 trillion. This growth eclipsed Microsoft's market cap, which fell slightly to nearly $3.32 trillion after a 0.4% decline. Nvidia's shares have skyrocketed more than 215% over the last 12 months and an astonishing 3,400% over the past five years. In contrast, Microsoft has seen a more modest 19% increase in 2024. Nvidia's journey from a $1 trillion market cap, achieved on June 13, 2023, to over $3 trillion by June 5, 2024, marks the fastest