New York — Twitter shares jumped as much as 22% on Thursday, 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 fake accounts. The surge in shares reversed a 19% 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. “If they are getting rid of bots, fake accounts and fighting hate speech, then it’s actually good for the health of the platform overall,” said Pivotal Research Group analyst Brian Wieser. “That is certainly more appealing to advertisers.” Twitter’s advertising revenue jumped 29% to $650m in the third quarter from a year earlier, boosted by ad sales on broadcasts from media companies i...
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