Twitter Stock Hits High On New Revenue, User Goals

Twitter plans to at least double annual revenue and hit 315 million or more daily active users in 2023, the social media giant said Thursday ahead of an investor day set for noon ET. The daily active users (DAU) figure reps a 20% compound annual growth rate from the 152 million reported in the fourth quarter of 2019. The goal is to see sales jump to $7.5 billion from $3.7 billion in 2002 by growing audience and gaining advertising market share in both brand and direct response. The new targets buoyed Twitter shares which  jumped as much as 12% to a record intraday high of $80.75. They’re trading up 9% late morning, outpacing the broader market and the rest of the tech sector. The tech-heavy Nasdaq is down 1.2%. DJIA is down by about 160 points. CEO Jack Dorsey will kick off the event, which will focus on “Healthy Participation” in consumer product priorities, policy and enforcement as well as financial metrics and faster development. Content moderation has become a major issue with Twitter at the fore, having permanently banned former president Donald Trump from the platform for his comments during and after the attack on the U.S. Capitol on…
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