The social network Twitter has grown considerably in the last months of 2021. But analysts were disappointed, expecting even better.
Ad revenue grew 21.5 percent year-over-year to $1.41 billion. In three months, the number of users also increased from 211 to 217 million. So the company is doing well, but less well than expected.
Higher costs pushed profits down to $182 million in the quarter. However, the company says it is “on the right track” towards its goal of 315 million active users and annual revenue of $7.5 billion. Twitter wants to achieve that by the end of 2023 and expects ‘acceleration’ this year.
It also announced a $4 billion share repurchase program. The results are the first under new CEO Parag Agrawal. His predecessor and co-founder of the social network, Jack Dorsey, resigned in November.
