• Twitter gears up for its most ambitious quarter of user growth

    Sci & Tech
    Twitter gears up for its most ambitious quarter of user growth

    According to IBES data from Refinitiv, Twitter's internal goal of 13 million new users exceeds Wall Street's forecasts, with analysts expecting growth of 9 million on average.

    Digital Desk: Twitter's consumer products division heads said to employees
    on Tuesday that the firm is gearing up for its most ambitious quarter of user
    growth yet. Twitter wants to increase its monetizable daily active users, or
    those who see ads, by 13 million this quarter, reports stated.



    Moreover, the leaders told the staff that this is the
    highest target the team has ever set.



    They went on to say that Twitter is on course to meet its
    objective, with 8.5 million new users added in the last quarter, one of the
    best growth quarters in the company's history.



    Shares of Twitter rose
    1% in afternoon trading.




    Even while its plan to be bought by billionaire Elon Musk
    remains uncertain, the San Francisco-based startup maintains its desire to
    attract new customers.



    Musk told Twitter in a filing on Monday that if the
    company does not disclose data that allows him to independently verify the
    proportion of spam and fraudulent accounts on the social media network, he may
    walk away from the $44 billion transactions.



    Spam and false accounts contribute to less than 5% of
    quarterly monetizable daily active users, according to the company's public filings.



    Twitter's spokesman declined to say further.



    Notably, late in the
    first quarter, the war in Ukraine boosted user activity on Twitter, but time
    spent on the platform has decreased by 4% in the current quarter, according to
    leaders.




    As people flocked to Twitter for news at the start of the
    epidemic, the site attracted 20 million users in the second quarter of 2020,
    its largest quarterly sequential growth since at least 2019.



    Since then, the company has struggled to meet its
    longer-term revenue and user growth projections, leading to a hiring freeze and
    cost-cutting measures.



    According to IBES data
    from Refinitiv, Twitter's internal goal of 13 million new users exceeds Wall
    Street's forecasts, with analysts expecting growth of 9 million on average.



     

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