Twitter CEO Parag Agrawal (pictured) was predictably bullish on the impact a restructure implemented in late 2021 would have on its performance this year, despite expecting more moderate revenue growth.

In a shareholder note, Agrawal explained a refreshed management structure would improve decision making and accountability, with a push towards more targeted advertising also underway.

Agrawal also highlighted investments in machine learning and reported Twitter is preparing to migrate these systems to the Google Cloud Platform.

On an earnings call, the CEO claimed subscription service Blue had been well received by Twitter’s heaviest users. It launched in 2021 and is now available in the US, Canada, Australia and New Zealand, though Agrawal said it is not expected to make a meaningful contribution to revenue within the next two years.

Twitter generated net profit of $181.7 million in Q4 2021, down 18 per cent year-on-year, with revenue up 22 per cent at $1.6 billion.

In 2021 as a whole, it cut its net loss from $1.1 billion to $221.4 million, on revenue of $5.1 billion, up 37 per cent.

The company projected revenue growth of 15 per cent to 20 per cent for 2022, but noted the figure would have been marginally higher when adjusted to account for the sale of mobile advertising business MoPub which closed on 1 January.