Musk’s X shows weaker sales after initial post-election surge

Sales at Elon Musk’s X dropped slightly during the second quarter from the first quarter, signaling that the social network has struggled to build on the spending that rushed in when Musk was at the center of US politics.

The social network, formerly known as Twitter, posted about $707 million in revenue in the three-month period through June 30, a 2.2% drop compared to the first three months of the year, according to people briefed on the numbers. Still, that’s more than a 20% increase in sales from the same period in 2024, partly helped by the election and post-campaign surge, when Musk was spending much of his time directly alongside President Donald Trump.