Twitter plans to double revenue by 2023, teases new ‘super follow’ feature

Twitter Inc will launch new features and products at a faster pace to catch up with rivals, it said on Thursday, projecting a doubling in annual revenue and reaching a least 315 million users in 2023.

Twitter shares rose 6.8% to $76.70.

“We know we’ve been slow,” Chief Executive Jack Dorsey said in a virtual investor day presentation. “When you compare us with our peers, it’s been especially stark.”

The social media network said it aims to have annual revenue of at least $7.5 billion by the end of 2023.