Why Twitter (TWTR) Stock Is Up Today

NEW YORK (TheStreet) -- Twitter (TWTR) was gaining 2% to $38.50 Thursday after Facebook (FB) reported higher ad prices during the second quarter.

Ad prices effectively more than doubled from the year-ago period for Facebook following a shift to more expensive news feed and mobile ads. Ad sales rose 67% in the quarter, despite ad impressions dropping 25%. Mobile ad sales accounted for 62% of ad revenue in the quarter for Facebook.

The increased ad prices helped push up shares of Twitter and other Internet companies such as Pandora (P) and Yelp (YELP).

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