Twitter says it’s on track to reach 2023 goals
Twitter says it has made meaningful progress in 2021 against the 2023 goals of having at least 315 million users and delivering USD 7.5 billion or more in revenue for the full year of 2023.
Q4 revenue was USD 1.57 billion, with ad revenue of USD 1.41 billion, both up 22% year over year, “driven by ongoing revenue product improvements, solid sales execution, and a broad, continued increase in advertiser demand.” Commentators said analysts had expected ad revenue of 1.43 billion.
Average monetizable daily active users (mDAU) was 217 million, up 13% year over year, “driven by product improvements, as well as global conversation around current events.”
The company said it for the full 2022 expects revenue to grow in the low to mid 20% range vs. 2021 with performance ad revenue growing faster than brand, and mDAU growth accelerating in the US and International markets over the course of the year.
Total revenue for 2021 was approximately USD 5.08 billion, an increase of 37% or 36% on a constant currency basis. Advertising revenue grew 40%, with the US growing 41% and international growing 39%.
The company announced a new USD 4 billion share repurchase saying it intends to enter into a USD 2 billion accelerated share repurchase and repurchase the remaining USD 2 billion over time.
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