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Twitter sticks with ambitious targets despite earnings miss

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Twitter on Thursday reported that revenue and its user base grew less than expected, but the platform stuck with ambitious growth targets for the coming years.

The platform has a fraction of the daily users -- an average of 217 million at the end of 2021 -- that flock to giants like Facebook, but has aimed to significantly boost growth and revenue.

Thursday's earnings release showed that Twitter was about one million under analysts' expectations for users at the end of 2021, but still increased by about six million from the previous quarter. "Our strong 2021 performance positions us to improve execution and deliver on our 2023 goals," said CEO Parag Agrawal, who took over from founder Jack Dorsey last year."It's going to be tough, but not totally impossible," wrote Market Intelligence analyst Jasmine Enberg, referring to the 315 million target.

"With Agrawal in charge, we can expect more product changes and innovation at an even faster pace than we've seen over the past two years," she added.

 

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