Elon Musk’s social media platform X reported its first increase in revenues in the United Kingdom since Musk’s acquisition, reversing an earlier trend marked by a significant advertiser withdrawal. In the year ending 2024, the company generated £46.4 million in revenue in the UK, reflecting a 61 percent rise compared to the previous year.

Despite the overall revenue growth, advertising income in the UK remained virtually unchanged at £22.9 million. The majority of the revenue increase came from services provided to X’s parent company, including software development, research, coding, and advertising technology.

X also reported an improvement in profitability, with pre-tax profits more than doubling to £1.58 million during the same period. This boost in profits closely followed the company’s strategic pivot towards expanding its service offerings beyond traditional advertising.

The revenue and profit figures indicate a gradual recovery for X in the UK market after a period of financial pressure linked to advertiser pullbacks following Musk’s takeover. The company’s ability to generate income from internal services appears to have played a key role in offsetting the stagnation of advertising revenues.