BUSINESS

Twitter Set To Double Revenue In 2023

Twitter in a report said it’s looking to double annual revenue to at least $7.5 billion and reach 315 million users in 2023.

On the back of that announcement the company’s share climbed by more than 8%.

Twitter also said it will increase the number of features to generate an increase revenue and users.

The social media platform has been a laggard in adopting new changes unlike rivals such as Facebook and smaller viral apps like ByteDance’s TikTok.

Twitter said in a filing it expects to reach at least 315 million monetizable daily active users or users who see ads, by the fourth quarter of 2023.

Readers Bureau, Contributor

Edited by Jesus Chan

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