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Twitter advertising revenues surge in third quarter, shares jump

People holding mobile phones are silhouetted against a backdrop projected. Twitter Inc posted an increase in revenue and profit in the third quarter. [Photo: REUTERS]

Twitter Inc posted revenue and profit ahead of Wall Street estimates on Thursday, as higher advertising sales offset a drop in monthly users to push the company’s shares up nearly 12 percent before the opening bell.

Quarterly advertising revenue jumped 29 percent from a year earlier to $650 million, boosted by advertiser interest in broadcasts from media companies including Live Nation Entertainment, Major League Baseball and Major League Soccer.

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