Twitter posts a surprise jump in user growth
NEW YORK - Shares in Twitter Inc jumped 13 percent on Tuesday after the social media company reported quarterly revenue above analyst estimates, which executives said was the result of weeding out spam and abusive posts and targeting ads better.
Twitter executives said they saw opportunities for selling ads that earn revenue when users visit websites or download apps, citing success with major brands like Walt Disney Co. The company is looking to grow its sales team in 2019 to better serve big advertisers. But Twitter also forecast revenue for the second quarter largely below analyst estimates, and said that it would continue to spend heavily on cleaning up Twitter as well as new ad products.Total operating expense including cost of revenue rose by 18 percent from the first quarter a year ago. The company reiterated that operating expenses would grow about 20 percent in 2019.
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