Revenue increased 37%, to $5.08 billion, compared with 2020. But it reported a net loss of $221 million for the year largely tied to the settlement of a shareholder lawsuit.
The appointment of Agrawal, a 10-year veteran of Twitter, signalled a tacit endorsement by the board of a strategy the company previously laid out to double its annual revenue by 2023.
Twitter Posts Surge Over Pandemic Situation Apr 30, 2021, 16:14 IST
Currently, Twitter has 199 million estimated monetisable daily active users (mDAU), up 20% year over year, due to ongoing product improvements and global discussion about the pandemic.
Twitted posted that, for the first quarter of 2021 the revenue is $1.04 billion, up 28percent (on year), and a net income of $68 million. Advertising sales hit $899 million, up 32 percent from the previous year.
Twitter CEO Jack Dorsey said in a statement, “People turn to Twitter to see and talk about what’s happening, and we are helping them find their interests more quickly while making it easier to follow and participate in conversations
Highlights Twitter Inc is planning to launch new features and products to counter its rivals in the market.
The social media giant said that a new feature will be launched this year that will allow users to charge their followers for access to additional content. it is also looking to allow communities to be created for particular interests.
After locking horns with the government, Twitter Inc is planning to launch new features and products to counter its rivals in the market and also looking to double annual revenue to reach at least 315 million users by 2023. We know we ve been slow, Chief Executive Jack Dorsey said in an investor day presentation. When you compare us with our peers, it s been especially stark.