Twitter informs employees that it expects to add 13 million new users this quarter

Twitter's consumer products division heads warned employees on Tuesday that the firm is gearing up for its most ambitious quarter of user growth yet.

According to an internal conference witnessed by Reuters, Twitter wants to increase its monetizable daily active users, or those who see ads, by 13 million this quarter.

Leaders told personnel that this is the highest target the team has ever set.

They went on to say that Twitter is on course to meet its objective, with 8.5 million new users added in the last quarter, one of the best growth quarters in the company's history.

In afternoon trade, Twitter's stock increased by 1%.

Even while its plan to be bought by billionaire Elon Musk remains uncertain, the San Francisco-based startup maintains its desire to attract new customers.

Musk told Twitter in a filing on Monday that if the company does not disclose data that allows him to independently verify the proportion of spam and fraudulent accounts on the social media network, he may walk away from the $44 billion transaction.

Spam and fraudulent accounts make for less than 5% of the company's quarterly monetizable daily active accounts, according to public filings.

Late in the first quarter, the war in Ukraine boosted user activity on Twitter, but time spent on the platform has decreased by 4% in the current quarter, according to leaders.

As people flocked to Twitter for news at the start of the epidemic, the site attracted 20 million users in the second quarter of 2020, its largest quarterly sequential growth since at least 2019.

Since then, the company has struggled to meet its longer-term revenue and user growth projections, leading to a hiring freeze and cost-cutting measures.

According to IBES data from Refinitiv, Twitter's internal goal of 13 million new users exceeds Wall Street's forecasts, with analysts expecting growth of 9 million on average.