Twitter Inc (NYSE:TWTR) shares spiked as high as $39.51 on Thursday following reports that company executives further explained how they calculate the number of bots on the social media platform. 

According to a Bloomberg report, Twitter executives said the social media company manually reviews thousands of accounts each quarter, which has helped them to accurately determine the 5% bot number.

Twitter also said it uses internal data, like IP addresses or phone numbers, to confirm the number of bot accounts. The company even estimated that the true number of bot accounts is significantly lower than what was previously disclosed in filings. 

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TWTR Price Action: Twitter has traded between $73.34 and $31.30 over a 52-week period.

The stock was up 1.86% at $38.92 at press time, according to data from Benzinga Pro.

Photo: Steve Jurvetson from Flickr.