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Twitter ad sales surge in third quarter, shares jump

NEW YORK: Twitter 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‚Äôs 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. That drove a similar rise in overall revenue from a year earlier to…

Facebook booming even as time spent on it drops

SAN FRANCISCO: Facebook on Wednesday reported a big jump in profits even though people are spending less time on the world's biggest social network. The company said its priority is to encourage personal interaction among users, rather than simply boost the number of hours they spend on Facebook. Co-founder Mark Zuckerberg said changes enacted by Facebook cut time spent on the site by some 50 million hours per day. But Facebook's chief operating officer argued that having users engage more with friends' posts could…