Twitter stock jumps on ad partnership with mobile apps, websites
By Alexei Oreskovic
SAN FRANCISCO (Reuters) - Twitter Inc's stock jumped more than 6 percent on Tuesday after the social media company said its promoted tweets will appear on third-party mobile apps and websites under a new advertising distribution program.
The syndication program will broaden the reach of Twitter's ads beyond the 284 million monthly users who access its service every month, Twitter said. Its first partners are newsreader app Flipboard and Yahoo Japan.
"For the thousands of brands already advertising on Twitter, these new partnerships open a significant opportunity to extend the reach of their message to a larger audience," Twitter said in a post on its official blog.
Twitter is due to report its fourth-quarter financial results on Thursday. The company's stock price has been under pressure, down roughly 40 percent from its 52-week high of $67.24, on investor concerns that it is struggling to add new users to its service.
Shares of Twitter rose 6.5 percent to $39.90 early Tuesday afternoon.
(Reporting by Alexei Oreskovic; Editing by Richard Chang)
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