Twitter’s stock dropped nearly 20% Tuesday afternoon after disappointing quarterly earnings leaked online ahead of their expected release.
Twitter’s first quarter revenue was $436 million, up 74% year-over-year but widely missing analysts’ estimates of $457 million. The company posted a first quarter loss of $162 million, compared to a $132 million loss a year ago. Twitter also trimmed its second quarter and full-year revenue estimates to ranges below analysts’ expectations.
Twitter’s underwhelming results were first tweeted by financial data aggregator Selerity at 3:07 p.m. ET, sparking a massive drop in the company’s stock price. Twitter’s earnings weren’t expected until after the closing bell at 4 p.m. ET.
#BREAKING: Twitter $TWTR Q1 Revenue misses estimates, $436M vs. $456.52M expected
— Selerity (@Selerity) April 28, 2015
#BREAKING: Twitter $TWTR Q1 Average Monthly Active Users (MAUs) 302M inline with expectations
— Selerity (@Selerity) April 28, 2015
#BREAKING: Twitter $TWTR Q1 Mobile Monthly Active Users (MAUs) misses estimates, 241.6M vs. 243M expected
— Selerity (@Selerity) April 28, 2015
#BREAKING: Twitter Inc. $TWTR Q1 Non-GAAP EPS beats estimates, $0.07 vs. $0.04 expected
— Selerity (@Selerity) April 28, 2015
Selerity later said it found the early results on Twitter’s own investor relations website.
Today’s $TWTR earnings release was sourced from Twitter’s Investor Relations website https://t.co/QD6138euja. No leak. No hack.
— Selerity (@Selerity) April 28, 2015
Twitter’s first quarter results do have some hopeful spots, with monthly active users topping 300 million for the first time and revenue from advertising up 72%, the vast majority of said growth coming from mobile devices.
This Tweet Just Made Twitter’s Stock Crash Hard added by theliepolitic on
View all posts by theliepolitic →