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Company confident about strategy to double revenues in 2 years

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Twitter announced on Thursday ambitious goals to double both its user base and revenues over the next two years, milestones its finance chief said he thinks the company is more than capable of meeting.

The social media company said it is looking to grow its daily active users to 315 million, up from 152 million at the end of 2019, and reach $7.5 billion on the top line, up from $3.7 billion in 2020, by the end of 2023.

Twitter shares rallied to new highs after the announcement, rising more than 3% despite the broader tech sector suffering its worst trading day since October.

After the close, Twitter CFO Ned Segal told CNBC’s Jim Cramer that the forecast reflects the company’s optimism…



Source cnbc.com

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