Twitter Inc. reported lower-than-expected advertising revenue in the quarter and an increase in users, while forecasting revenue lower than analysts’ estimates, suggesting that the recovery plan has not yet yielded results.
However, it again made “significant progress” in achieving its goal of reaching 315 million users and $ 7.5 billion in annual revenue by the end of 2023.
He also stressed that the growth of users will accelerate in the US and internationally this year.
The company promotes major projects such as audio chat rooms and newsletters to end long-term stagnation and attract new users and advertisers.
But the quarterly results raise questions about twitter’s plan as analysts expected faster progress.
During the quarter, users who see ads increased by 13% to 217 million, compared to estimates for 218.5 million. In the previous quarter, the number had reached 211 million users.
Twitter also announced a new $ 4 billion stock plan, in addition to the $ 2 billion purchases it approved in 2020.
The share is up 7% pre-conference.
Advertising revenue for the fourth quarter rose 22 percent year on year to $ 1.41 billion, compared with estimates for $ 1.43 billion.
The company forecasts total first-quarter revenue of $ 1.17-1.27 billion, compared to estimates for $ 1.26 billion.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
