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Last year, Twitter executives set ambitious goals for their companies in hopes of attracting more than 100 million new users and doubling revenue by 2023. But the last three months of 2021 showed the challenges the company had to overcome in order to achieve its goals. .

Twitter said on Thursday that its revenue grew slower than analysts expected in the final quarter of 2021, and that it expects the company to report losses in the current quarter. But by adding new users, it has potentially allayed concerns that it’s struggling to attract attention to an increasingly diverse market for social media.

Twitter reported $1.56 billion in revenue in the final three months of 2021; That’s a 22 percent increase over the previous year, but below analyst expectations. Twitter said it generated $176 million in revenue, down 34 percent from the previous year. The company said it has 217 million daily active users who see ads, a 13 percent increase.

Twitter also announced that its board of directors has authorized a $4 billion share buyback. The company plans to repurchase its $2 billion stake and buy the remaining $2 billion over time, as it describes an expedited timeline. The plan follows an earlier buyback of $2 billion authorized in 2020, but $819 million of that program remains unspent.

“It represents confidence in our strategy and execution,” said Ned Segal, Twitter’s CFO. “We put our money where our mouth is.”

Twitter said it plans to grow rapidly over the next two years, reaching 315 million daily active users and $7.5 billion in annual revenue by the end of 2023.

The company added one million daily active users in the United States and five million internationally in the fourth quarter. Its total revenue in 2021 was $5.08 billion, up 37 percent from the previous year.

Twitter’s stock price fluctuated wildly last week when Facebook’s parent company Meta said privacy changes introduced by Apple were reducing its advertising business. Investors viewed Meta’s earnings report Twitter said Apple’s privacy changes had minimal impact on the advertising industry.

“Our strong 2021 performance positions us to improve execution and meet our 2023 goals,” Parag Agrawal, Twitter’s new CEO, said in a statement. “We’re more focused and better organized to offer better personalization and choice for our viewers, partners and advertisers.”