Twitter Reports MDAU Growth Of 13% In Q4; Announces $4 Bln Share Repurchase Program

(RTTNews) - Twitter, Inc. (TWTR) said its Average monetizable DAU or mDAU reached 217 million for its fourth quarter, up 13% year over year, driven by product improvements, and global conversation around current events. The company noted that it made meaningful progress in 2021 against its 2023 goals of doubling development velocity by the end of 2023, and delivering at least 315 million mDAU in fourth quarter of 2023.

In 2022, the company targets full-year revenue to grow in the low to mid 20% range, excluding MoPub and MoPub Acquire, with performance ad revenue growing faster than brand, and mDAU growth accelerating in the US and International markets over the course of the year. Also, the company expects total costs and expenses to grow in the mid 20% range in 2022.

Twitter reported fourth-quarter adjusted profit per share of $0.33 compared to $0.38, prior year. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35, for the quarter. Analysts' estimates typically exclude special items.

Net income was $182 million, or $0.21 per share compared to $222 million, or $0.27 per share, prior year. Revenue was $1.57 billion, an increase of 22% year over year or 23% on a constant currency basis. Analysts on average had estimated $1.58 billion in revenue. Advertising revenue was $1.41 billion, up 22% year over year or 24% on a constant currency basis. Revenue growth was driven by ongoing revenue product improvements, solid sales execution, and a broad, continued increase in advertiser demand, the company said. For first quarter, the company expects: GAAP operating loss to be between $225 million and $175 million; and total revenue to be between $1.17 billion and $1.27 billion.

Twitter's Board has approved a new $4 billion share repurchase authorization. The company plans to enter into a $2 billion accelerated share repurchase and repurchase the remaining $2 billion over time. The new share repurchase program replaces the previously authorized $2 billion program from 2020, of which approximately $819 million remained.

Shares of Twitter were up 4% in pre-market trade on Thursday.