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LequteMan
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Twitter's share price dropped almost 20% following a leak of its $436m earnings on Twiiter, Wired reports.
Selerity, a data science company that hunts for the online addresses of earnings releases based on past URLs, posted Twitter’s first quarter earnings results to Twitter well ahead of the company’s planned release of the figures. The less-than-stellar results sent Twitter’s stock down more than 18 percent by the market’s close.
During the company’s earnings call, a representative said Nasdaq manages Twitter’s investor relations site. Twitter stopped short of accusing the stock exchange of botching the release but said it had instructed that the earnings numbers not be posted until the market’s close. Twitter said it is still investigating the matter.
Regardless of when the results came out, they weren’t great. Twitter posted a big miss on revenue in spite of the company’s launch of new products and features meant to attract more users. In the first quarter, Twitter’s revenue rose 74 percent to $436 million, but missed analysts’ expectations for $456.5 million. The company averaged 241.6 mobile monthly active users—a key metric—missing an expected 243 million.
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Selerity, a data science company that hunts for the online addresses of earnings releases based on past URLs, posted Twitter’s first quarter earnings results to Twitter well ahead of the company’s planned release of the figures. The less-than-stellar results sent Twitter’s stock down more than 18 percent by the market’s close.
During the company’s earnings call, a representative said Nasdaq manages Twitter’s investor relations site. Twitter stopped short of accusing the stock exchange of botching the release but said it had instructed that the earnings numbers not be posted until the market’s close. Twitter said it is still investigating the matter.
Regardless of when the results came out, they weren’t great. Twitter posted a big miss on revenue in spite of the company’s launch of new products and features meant to attract more users. In the first quarter, Twitter’s revenue rose 74 percent to $436 million, but missed analysts’ expectations for $456.5 million. The company averaged 241.6 mobile monthly active users—a key metric—missing an expected 243 million.
