Why Twitter (TWTR) Stock Is Higher This Morning

NEW YORK (TheStreet) -- Shares of Twitter Inc. (TWTR) are up 1.25% to $30.88 after the Financial Times pointed to its growing popularity in Asia.

Nearly a third of the company's users across the world are expected to be in Asia at the end of this year, as the messaging platform expands rapidly in the region. This is in spite of fierce competition from Asian chat apps and a ban on operating in China, the Times reported.

In its first regional breakdown of Twitter's user figures, research company E-Marketer forecasts that Asia, which has surpassed the US in terms of numbers of users, will have more than double the number of accounts in North America by 2018.

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India and Indonesia are both poised to overtake the U.K. to become the third and fourth largest Twitter populations this year, the Times noted.

Also, Omnicom  (OMC) struck a $230 million deal with Twitter that will integrate Omnicom's programmatic ad buying unit with Twitter's ad exchange MoPub. The deal is for two years.

 

TWTR Chart

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