NEW YORK—Twitter Inc. shares jumped as much as 22 percent on Oct. 25, putting them on track for their biggest one-day gain, as the social media company easily beat Wall Street’s revenue and profit estimates by selling more ads even though it lost users after purging millions of alleged fake accounts.
The surge in shares reversed a 19 percent fall three months ago when Twitter shocked Wall Street with a similar decline in users. This time, investors welcomed Twitter removing accounts used for disinformation, hate speech and other abuse as the best way to solidify a base of high-quality users who are attractive to advertisers.
