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Twitter shares soar on news of a surge in growth and profits

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There’s a lot of tweeting going on these days. Twitter’s stock reportedly jumped  at least 30 percent today after it revealed better than expected second-quarter earnings. The chatty social network reported $312 million in revenue beating a forecast of $283 million in revenue. Also, Twitter delivered more good news about a surge in users. In the second-quarter, the micro-blogging site added 16 million users for a total of 271 million who tweet at least once a month. The news prompted Twitter stock to leap more than $50 a share in after-hours trading, according to USA Today.

Twitter’s growth is impressed. However,  it has a ways to go before reaching the level of mega-social network, Facebook, which is trading at over $70 a share and has a reported 1.3 billion monthly users.

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