Network TodayNetwork Today
    What's Hot

    Smuggling the abortion pill into Texas could land you in legal peril, if this bill becomes law

    March 20, 2023

    2 Illinois teens die after sledding accident at Colorado ski resort

    March 20, 2023

    Stuart Hodes, Who Danced With Martha Graham, Is Dead at 98

    March 20, 2023
    Facebook Twitter Instagram
    • About
    • Privacy Policy
    • Terms
    • Contact
    Facebook Twitter Instagram
    Monday, March 20
    Network TodayNetwork Today
    • Home
    • News
    • Politics
    • Business
    • Energy
    • Technology
    • Health
    • Lifestyle
    • Sports
    Network TodayNetwork Today
    Home » Twitter’s mixed fourth quarter shows its challenges ahead.

    Twitter’s mixed fourth quarter shows its challenges ahead.

    February 10, 20223 Mins Read Technology
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email Reddit
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Last year, Twitter executives set ambitious goals for their company, with hopes of attracting more than 100 million new users and doubling revenue by 2023. The last three months of 2021, however, showed the challenges the company must overcome before it can hit its objectives.

    Twitter said on Thursday that its revenue grew more slowly than analysts had expected in the last quarter 2021, and the company predicted that it would report a loss in the current quarter. But it added new users, potentially easing concerns that it was having a hard time drawing interest in an increasingly diverse market for social media.

    Twitter reported revenue of $1.56 billion in the final three months of 2021, a 22 percent increase from a year earlier but lower than analyst expectations. Twitter said it earned $176 million in income, a 34 percent decline from the year-ago period. The company said it had 217 million daily active users who see ads, a 13 percent increase.

    Twitter also announced that its board had authorized a $4 billion buyback of its stock. The company plans to repurchase $2 billion of its shares on what it described as an accelerated timeline, with the remaining $2 billion to be purchased over time. The plan follows an earlier buyback of $2 billion that was authorized in 2020, although $819 million of that program remained unspent.

    “It represents confidence in our strategy and execution,” Ned Segal, Twitter’s chief financial officer, said of the share repurchasing plan. “We are putting our money where our mouth is.”

    Twitter has said that it plans to grow rapidly over the next two years, reaching 315 million daily active users and $7.5 billion in annual revenue by the end of 2023.

    The company added one million daily active users in the United States in the fourth quarter, and five million users internationally. Its total revenue in 2021 was $5.08 billion, a 37 percent increase from the previous year.

    Twitter’s stock price swung wildly last week, when Facebook’s parent company, Meta, said that privacy changes introduced by Apple had dampened its advertising business. Investors viewed Meta’s earnings report as a bellwether for the social media industry, but Twitter said that Apple’s privacy changes had a minimal impact on its advertising business.

    “Our strong 2021 performance positions us to improve execution and deliver on our 2023 goals,” Parag Agrawal, Twitter’s new chief executive, said in a statement. “We are more focused and better organized to deliver improved personalization and selection for our audience, partners and advertisers.”

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    BONUS: Hard Fork Live! Big Tech’s Arch Nemesis + Bot or Not?

    March 20, 2023

    Amazon Plans to Lay Off Another 9,000 Employees

    March 20, 2023

    Crypto Wants Its Shine Back

    March 20, 2023

    YouTube Restores Donald Trump’s Account Privileges

    March 17, 2023

    WeWork Reaches a Debt Restructuring Deal With SoftBank

    March 17, 2023

    Twitter’s Discussions Over Licensing Music Said to Stall Under Elon Musk

    March 17, 2023
    Trending

    Smuggling the abortion pill into Texas could land you in legal peril, if this bill becomes law

    March 20, 2023

    2 Illinois teens die after sledding accident at Colorado ski resort

    March 20, 2023

    Stuart Hodes, Who Danced With Martha Graham, Is Dead at 98

    March 20, 2023

    No handcuffs: Ex-prosecutor says Secret Service, NYPD could arrange polite Trump surrender

    March 20, 2023
    Latest News

    U.S. Weighs Russian Oil Ban as Gas Prices Surge and Ukraine War Grows

    March 8, 2022

    Russian Forces Attack Bakhmut From Three Directions

    March 5, 2023

    Republican calls for Pelosi to probe Biden admin’s potentially ‘illegal’ request for Saudis to delay oil cut

    October 15, 2022

    Will potential new third party in New Jersey help a House Democrat facing challenging re-election?

    June 8, 2022

    ‘Top Gun: Maverick’ Review: Will This Stuff Still Fly?

    May 27, 2022

    Gun Deal Is Less Than Democrats Wanted, but More Than They Expected

    June 13, 2022

    Network Today is one of the biggest English news portal, we provide the latest news from all around the world.

    We're social. Connect with us:

    Facebook Twitter Instagram Pinterest YouTube
    Recent

    Smuggling the abortion pill into Texas could land you in legal peril, if this bill becomes law

    March 20, 2023

    2 Illinois teens die after sledding accident at Colorado ski resort

    March 20, 2023

    Stuart Hodes, Who Danced With Martha Graham, Is Dead at 98

    March 20, 2023
    Featured

    Los Angeles County Investigates Death of Person With Monkeypox

    September 9, 2022

    17 Years After Her Husband’s Crash in Nepal, a Pilot Met the Same Fate

    January 16, 2023

    Indian army training goes awry when fired mortar shell falls short of target, kills 3 in nearby village

    March 9, 2023
    Copyright ©️ All rights reserved | Network Today
    • About
    • Privacy Policy
    • Terms
    • Contact

    Type above and press Enter to search. Press Esc to cancel.