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Technology Stocks : Twitter, Inc.
TWTR 47.07-0.9%Nov 26 4:00 PM EST

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From: Glenn Petersen2/25/2021 7:42:21 PM
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Twitter shares soar after company announces plan to double revenue by end of 2023

PUBLISHED THU, FEB 25 20219:04 AM EST
UPDATED THU, FEB 25 20214:01 PM EST
Lauren Feiner @LAUREN_FEINER
CNBC.com

KEY POINTS

-- Twitter said Thursday it aims to have 315 million monetizable daily active users by the end of 2023.It also wants to at least double its annual revenue in that year.

-- This is the first time Twitter has set long-term goals for revenue and daily users and it comes ahead of the company’s analyst day on Thursday afternoon.

Twitter said Thursday it aims to have 315 million monetizable daily active users (mDAUs) by the end of 2023 and to at least double its annual revenue in that year. The announcement was made in an SEC filing.

Twitter’s stock rose 3.9% Thursday.

This is the first time Twitter has set long-term goals for revenue and daily users and it comes ahead of the company’s analyst day on Thursday afternoon. Twitter said in its last earnings report it had 192 million mDAUs in Q4 2020.

Doubling its annual revenue would mean going from $3.7 billion in 2020 to at least $7.5 billion in 2023, Twitter said. The company also set a goal of doubling its development velocity by the end of that same year, which would require it to double the number of features each employee ships that directly drives mDAUs or revenue.

Twitter reiterated that it aims for a long-term target of mid-teens GAAP operating margin or 40% to 45% adjusted EBITDA margin.

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