Twitter’s Daily User Base Grows 13% To 217M As Solid Q4 Results
deadline.comTwitter posted solid fourth-quarter numbers, meeting Wall Street revenue expectations, as its daily active user base grew 13% to reach 217 million.Shares in the social media company gained 7% in pre-market trading to more than $40, reversing a months-long slide.
Last week, social media peer Snap Inc. experienced a massive single-day stock spike after it reported quarterly numbers, while Meta took a tumble after it reported the first user decline for Facebook in 18 years.Quarterly revenue for Twitter came in at $1.57 billion, up 22% from the year-ago quarter, with ad revenue also rising 22% to $1.41 billion.
Earnings of 21 cents a diluted share declined from 27 cents in the comparable quarter of 2020.The company said it expects a revenue increase this year in the low- to mid-20% range from 2021 levels.
It cited “meaningful progress” toward its goal of 315 million users and $7.5 billion in annual revenue by the end of 2023.In its quarterly letter to shareholders, Twitter said it has stabilized its product experience and advertising functionality, despite changes enacted by Apple.
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