Twitter Inc. shares surged in trading Friday after CNBC reported that the company was examining the possibility of a sale. CNBC's David Faber said no sale was imminent but that Twitter may receive a formal bid shortly and is engaged with suitors. Salesforce.com Inc. and Google parent Alphabet Inc. are believed to be among the suitors, CNBC said. A representative from Twitter wasn't immediately available for comment. Twitter shares jumped 14% to $21.28 in morning trading in New York. Before Friday, the stock had fallen 30% over the past year. In the years since its November 2013 initial public offering, which was priced at $26, Twitter has struggled with slow user expansion and shrinking revenue growth. In its June quarter, Twitter reported 20% revenue growth, its smallest gain to-date and eighth-straight period of declining growth. Since Chief Executive Jack Dorsey retook the helm in 2015, Twitter has sought to reinvigorate its ads business around video and revive user growth by making the short-messaging service he invented easier to use.
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