Twitter increases revenue and confirms targets

Twitter's advertising business has grown significantly. According to its own figures, the short message service increased its revenue by 21.5 percent year-on-year in the past quarter to just under 1.57 billion dollars.

However, analysts on average had expected even higher growth to $1.58 billion. The number of users also missed Wall Street's forecast. Following the announcement of a share buyback, Twitter shares nevertheless rose by around 4 percent in pre-market US trading on Thursday.

The short messaging service looks to remain on track to reach $7.5 billion in annual revenue by the end of 2023. Last year, revenues rose 37 percent to $5.1 billion.

The number of users Twitter can reach with its ads rose from 211 million to 217 million in the past three months. Analysts had expected more than 218 million. The service has been focusing for some time on the people who access its app or the web version and thus see advertisements - instead of using applications from other providers. By the end of 2023, Twitter wants to have 315 million users active at least once a month on this basis.

At the same time, higher costs in the past quarter caused profits to fall year-on-year from $222 million to just under $182 million. (SDA)

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