Q4: Twitter reports 22% ad revenue growth to $1.41 billion
Monetizable daily active users grew 13 per cent to 217 million
Twitter Inc on Thursday reported earnings for the fourth quarter that missed analyst estimates on earnings, revenue and user growth. The social media’s giant’s total revenue rose 22 percent to $1.57 billion. The figure includes money earned from data licensing.
Monetizable daily active users, or users who see ads, grew 13 per cent to 217 million in the fourth quarter ended Dec. 31. This is higher than 211 million users in the previous quarter.
Advertising revenue for the fourth quarter grew 22 per cent year-over-year to $1.41 billion.
According to media reports, CFO Ned Segal said in a statement in the earnings release that its previously stated goals of reaching 315 million mDAUs in Q4 2023 and at least $7.5 billion in revenue in 2023 remained the same.
Segal said revenue in Q4 was impacted by a slowdown in advertiser spending in the last couple of weeks of the period. But he said spending has picked up moving into Q1.
The quarterly results are the first after Parag Agrawal took over as the CEO in November after co-founder Jack Dorsey stepped down.
Agrawal said on Twitter’s earnings call that the company still believes it can meet those 2023 goals because it’s seen a significant increase in new account sign-ups and reactivations. The company said it’s seen 25% year-over-year growth in new account sign-ups or reactivation and a 35% year-over-year increase in daily sign-ups.
