Twitter reported its earnings for the fourth quarter on Thursday. 2021’s revenue was approximately $5.08 billion USD, marking a 37% increase from 2020.
The company had an operating loss of $493 million USD due to a one-time litigation-related net charge, as well as its current investments. Expenses totaled $1.40 billion, an 35% increase from the year prior.
While the company’s shares initially rose on the report, they had fallen 2% by Thursday.
“Our strong 2021 performance positions us to improve execution and deliver on our 2023 goals,” CEO Parag Agrawal said. “We are more focused and better organized to deliver improved personalization and selection for our audience, partners, and advertisers.”
In 2023, Twitter has a goal of at least $7.5 billion in annual revenue. The company also shared that it has a new $4 billion USD share repurchase program, effective immediately, replacing its $2 billion USD share program from 2020.
In other tech news, YouTube says web3 offers “new opportunities” for creators.
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