X Reports Q3 Revenue Growth as Advertising Recovers

X has reported higher revenue for the third quarter of 2025, signaling a modest financial rebound after several turbulent years following Elon Musk’s takeover of the platform formerly known as Twitter. According to people familiar with the company’s financials, X generated $752 million in revenue for the three months ending September 30, representing a year-over-year increase of more than 17%.

As reported by Bloomberg, X “reported $752 million in revenue in the three-month period ended Sept. 30, a jump of more than 17% from the same period one year prior… Sales at X are over $2 billion for the first nine months of the year.” Based on these figures, X is now projected to bring in roughly $2.9 billion in total revenue for 2025, about 10% higher than its 2024 result.

The Q3 performance marks an improvement over the previous quarter, when revenue declined slightly compared to Q1. While the growth is not dramatic, the upward trend suggests that some advertisers are returning to the platform after pulling back amid concerns over content moderation, brand safety, and Musk’s sweeping product and policy changes. Subscription products like X Premium have also expanded, though advertising continues to account for the majority of revenue.

Despite the positive momentum, X remains far below its pre-acquisition highs. In 2022, Twitter reported $4.4 billion in revenue. That figure dropped to around $3.4 billion in 2023, Musk’s first year in control, and fell again to approximately $2.6 billion in 2024. Even if X meets its 2025 projection, overall revenue would still be down roughly 35% compared to pre-Musk levels.

The company also continues to face significant financial pressure from debt servicing costs of around $1.2 billion annually, leaving it close to break-even. Musk had previously forecast far more aggressive growth, projecting more than $26 billion in annual revenue by 2028.