Twitter sees revenue doubling in 2023, shares hit record high

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By Sheila Dang
(Reuters) - Twitter Inc said on Thursday it expected to double annual revenue to at least $7.5 billion and reach 315 million users in 2023, sending its shares up more than 8%.
Twitter will boost its new features to increase revenue and users, it said ahead of its investor presentation on Thursday.
The social media network has struggled to catch up with larger rivals like Facebook and smaller viral apps like ByteDance's TikTok in offering features. But in recent months, it has made a push to launch services such as audio-chat, similar to that of viral app Clubhouse.
"We know we've been slow," said Chief Executive Jack Dorsey during Twitter's virtual investor day. "When you compare us with our peers, it's been especially stark."
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