Twitter made a considerably smaller revenue in its fourth quarter than it did final 12 months, attributable to a rise of bills. That actuality didn’t a lot dampen traders’ temper on Thursday as they despatched the shares up 7% in pre-market buying and selling. The Nasdaq, nevertheless, is sort of flat.

Fourth-quarter web earnings was $182 million, which is down from $222 hundreds of thousands. It didn’t supply any specifics about what led to the surge in prices: Bills topped $1.4 billion, a 35% improve. Wall Road had figured Twitter’s revenue would really improve—to $290 million.

Gross sales, although, matched Wall Road expectations: $1.7 billion, which is able to doubtless additional ease considerations that modifications to Apple’s iOS software program will damage Twitter’s digital adverts enterprise, nonetheless its core enterprise.

For the 12 months, Twitter stayed within the purple, dropping $220 million—down over $1 billion final 12 months—whereas bringing in $5.1 billion in gross sales.

Twitter is at present in transition. Parag, chief expertise officer, took over from Jack Dorsey as CEO in November. Agrawal faces the responsbility of observe by way of on Dorsey’s bid to drastically improve Twitter’s income and each day customers, rising the latter to over 300 million by the top of subsequent 12 months. Twitter has launched a number of subscription-based companies to assist obtain each. These embody Areas (audio chat), and Tremendous Follows, which is a paywall that surrounds content material.

“Our robust 2021 efficiency positions us to enhance execution and ship on our 2023 objectives,” Agrawal mentioned in a press release in regards to the quarterly financials. To ship higher personalization and choice to our audiences, advertisers and companions, we at the moment are extra centered and arranged.

Twitter makes some optimistic strides. Within the fourth quarter, Twitter’s customers grew 13% to 217 million.