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Twitter, under new CEO Parag Agrawal, posted robust quarter results on Thursday, as revenue reached $1.57 billion (with ad revenue of $1.41 billion) — both up 22 percent (on-year) — driven by ongoing revenue product improvements, solid sales execution and a continued increase in advertiser demand.
The micro-blogging platform reported 217 million average mDAU (monetizable daily active users), up 13 percent, driven by product improvements, as well as global conversation around current events.
“Our strong 2021 performance positions us to improve execution and deliver on our 2023 goals. We are more focused and better organized to deliver improved personalization and selection for our audience, partners, and advertisers,” said Agrawal who took over from Jack Dorsey in November.
For 2021, Twitter registered over $5 billion in annual revenue, up 37 percent for the year.
“There are no changes to our goals of 315 million average mDAU in Q4 2023 and $7.5 billion or more revenue in 2023. Our increased focus on performance ads and the SMB opportunity after the sale of MoPub positions us even better for 2022 and beyond,” said CFO Ned Segal.
The company also announced a new $4 billion share repurchase authorization, of which half ($2 billion) will be executed through an accelerated share repurchase program (ASR).
The US revenue was $885 percent, an increase of 21 percent for Q4 while international revenue was $683 million, an increase of 23 percent.
“Japan, our second-largest market, reported revenue of $194 million, up 10 percent,” said Twitter.
Nearly 280 million accounts now follow at least one Topic, with more than 14.5K Topics available across 11 languages on Twitter.
