Twitter Inc (NYSE: TWTR) Misses Its Earnings Estimates Despite Growth Strategy

Twitter Inc (NYSE: TWTR) missed its quarterly estimates showing that its growth plan has still not been beneficial. However, the company has stated it is on its way to achieving a $7.5 billion revenue and 315 million users by 2023. Moreover, the company expects increased user growth in the US in 2022.

Analysts expected more growth for Twitter 

Analysts expected the company to achieve growth faster since it took on more significant projects such as newsletters and audio chat rooms. While Twitter gained 6 million new followers this quarter, it will have to get about 12 million each quarter to reach its goal.

According to the CEO of Twitter, Parag Agrawal, its performance allows it to improve its exception and achieve its 2023 goals. He adds that the company doesn’t intend to adjust its plans.

The company’s revenue for 2021 increased by 37% to reach $5.08 billion. It also has an operating loss of $493 million. This amount includes current investments and a one-time litigation charge of $766 million.

Additionally, Twitter’s Board of Directors has approved a share buyback program of $4 billion. This program replaces the company’s 2020 share repurchase program of $2 billion. About $819 million remained from the previous program.

Twitter has also announced the testing of the video playback speed feature on the web and android. The platform’s users will watch videos from ×0.25 to ×2. Furthermore, Twitter will expand the feature to iOS users.

Affirm Holdings Inc (NASDAQ: AFRM) drops after accidental tweet

Affirm Holdings Inc (NASDAQ: AFRM) declined by 33% after releasing partial and errant financial results before the actual results, which has missed estimates. The company has missed the $100.3 million estimates that analysts sets.

The company had accidentally posted on Twitter that it was another excellent year causing their shares to start plunging. Affirm had to explain itself over Twitter when trading stopped. It also explained that its results had leaked previously due to human error.

Meanwhile, NBA fans on Twitter are reacting to the end of the Golden State Warriors winning streak after the team lost to Utah Jazz. The Warriors had won nine consecutive games before this.

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Published by Donna Fago

I believe in writing content Informing investors with the knowledge they need to invest better today- I have been following the markets for many years and was asked to join the team at recently due to my passion for the markets.