(Twitter) Twitter reported a revenue of $1.57 billion in the fourth quarter of 2021, up 22% from the prior year but below estimates of $1.58 billion.
Growth in advertiser demand saw the fourth-quarter ad revenue also rise by 22% to $1.41 billion.
The social media giant announced an average monetizable DAU of 217 million in the fourth quarter, up 13% from the prior year. The mDAUs were below estimates of 218.6 million.
Net income was reported at $181.69 million, below $222.12 million in the prior year. The company narrowed net loss to $221.41 million in FY21, from $1.136 billion in the prior year.
Twitter now projects revenue of between $1.17 billion and $1.27 billion in the first quarter of 2022, compared to estimates of $1.26 billion.
The company also announced a $4 billion share buyback, with half of it an accelerated repurchase while the rest will be bought over time.
Twitter said it was on course to deliver the goal of 315 million mDAUs in Q4 2023 and revenue of not less than $7.5 billion in the same year.
TWTR: NYSE is up +3.49% on premarket.
