Elon Musk has directed Twitter Inc’s teams to find over $1 billion in annual infrastructure cost savings by cutting cloud services and extra server space.
Twitter is aiming to find up to $3 million per day in infrastructure savings. Twitter does not reveal the name of its server and Cloud partners.
Twitter’s costs and expenses totaled $1.52 billion in Q2 2022, an increase of 31 percent year-over-year. Twitter’s capital expenditures totaled $154 million in Q2, compared to $276 million in the same period last year.
Twitter reported $1.18 billion revenue during the second quarter of 2022. Media reports suggest top clients are staying away from Twitter in the wake of the $44 billion acquisition by Elon Musk.