Twitter chief confident in restructure - Mobile World Live

Twitter chief confident in restructure

11 FEB 2022
Twitter

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.

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Martha DeGrasse

Freelance tech journalist Martha DeGrasse (@mardegrasse) is delighted to be contributing to Mobile World Live. Martha has written for a number of telecom and wireless publications, and was a writer, editor and video producer at RCR Wireless News for almost...

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