Elon Musk’s X Shows Revenue Growth And Early Stabilisation As ‘Everything App’ Plans Take Shape: Report

• The platform reported higher quarterly sales but remained loss-making due to restructuring and other costs.
• Advertising continues to anchor revenue as X works to expand subscriptions, data licensing, and payments.
• New products such as XChat and the upcoming X Money reflect Musk’s push to broaden the platform’s scope.

Sales at Elon Musk’s X rose in the third quarter (Q3), though the social media platform continued to post heavy losses as it absorbed restructuring and other costs following the billionaire’s $44 billion acquisition.

Revenue for the three months ended Sept. 30 was about $752 million, more than 17% higher than a year earlier. Revenue for the nine months through Sept. 30 topped $2 billion, Bloomberg reported, citing people familiar with the matter.

Losses Persist Despite Revenue Growth

Higher sales have yet to translate into profitability. X recorded a net loss of about $577.4 million in Q3, largely driven by restructuring expenses, the report noted.

Still, some indicators suggest stabilisation after the disruption that followed Musk’s takeover in late 2022. Earnings before interest, taxes, depreciation and amortisation rose about 16% year on year to roughly $454 million in the quarter. The company also supposedly posted year-on-year revenue growth in the second quarter.

Advertising Still Dominates Revenue

Advertising has long been X’s primary source of income, but the company has been trying to broaden its revenue base through paid subscriptions and data-licensing agreements. Even with recent growth, X remains well below its pre-takeover scale. Before Musk’s purchase, Twitter generated $1.18 billion in revenue in the second quarter of 2022, its last report as a publicly listed company.

Push Toward An ‘Everything App’

In November, Musk said X Money would be launching soon, signalling the next phase of his effort to turn X into a broad communications and financial platform. The announcement followed the rollout of XChat, a major overhaul of the platform’s messaging system that brings encrypted messaging, audio and video calls, and file sharing into a single interface.

“X just rolled out an entire new communications stack,” Musk wrote on X, adding that X Money was coming soon.

Earlier this year, X partnered with Visa to support digital wallets and peer-to-peer payments. Limited beta launches began in early 2025, with a wider rollout planned through the year. X has also expanded beyond its microblogging roots by integrating its Grok artificial intelligence assistant.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment for X Corp was ‘bearish’ amid ‘low’ message volume.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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