Until recently, Twitter's transformation into X under Elon Musk seemed to diminish advertiser interest in the platform, but the first quarter of 2024 could be the beginning of a turnaround. Traffic to the social network's ad portal (ads.twitter.com) was up 29.2% year-over-year (YoY), according to Similarweb traffic estimates.

Traffic does not equal revenue, let alone profit, but we track visits to the ad portals of the social networks as a leading indicator of the health of their businesses. TikTok and Snapchat saw even stronger ad traffic growth, but at least X is no longer showing a shrinking audience for its ads.