Jack Dorsey, CEO of Twitter Inc. and Square Inc., speaks during an Empowering Entrepreneurs event at Ryerson University in Toronto, Ontario, Canada on Tuesday, April 2, 2019.
Cole Burston | Bloomberg | Getty Images
Twitter announced Thursday that it will have 315 million Monetizable Daily Active Users (mDAUs) by the end of 2023 and that it will at least double its annual revenue this year. The announcement was made in an SEC filing.
Twitter’s stock rose up to 10% during premarket trading after the news.
This is the first time Twitter has set long-term goals for revenue and daily users, and it precedes the company’s Analyst Day on Thursday afternoon. Twitter said in its last earnings report it had 192 million mDAUs in the fourth quarter of 2020.
Doubling annual sales would mean increasing from $ 3.7 billion in 2020 to at least $ 7.5 billion in 2023, Twitter said. The company has also set itself the goal of doubling its development speed by the end of the same year, which would make it necessary to double the number of functions that each employee sends out in order to control mDAUs or revenue directly.
Twitter reiterated that it has a long-term goal of a GAAP operating margin in mid-teens or an Adjusted EBITDA margin of 40% to 45%.
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