Twitter netted 6 million new daily active users in the fourth quarter of 2021 and beat Wall Street estimates on the bottom line. Revenue was in line with expectations, as the social network reported only “modest” impact from Apple’s iOS privacy changes.
Twitter shares were up 4% in premarket trading, as the company also reaffirmed aggressive user and revenue growth targets for 2023 and announced a $4 billion stock buyback program.
Q4 revenue was $1.57 billion, up 22% year over year, driven by “ongoing revenue product improvements, solid sales execution, and a broad, continued increase in advertiser demand,” the company said. The revenue impact associated with Apple’s iOS changes to require user opt-in for ad tracking in Q4 “remained modest,” Twitter said, and is expected to have “an ongoing modest impact,” which is incorporated into Q1 guidance.
