This Tweet Just Made Twitter’s Stock Crash Hard

// Last updated on //

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 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.

NEXT READ:  Europe: Flights Resume As Cost of Volcano Crisis Rises
Screen Shot 2015-04-28 at 4.10.22 PM

Visit Original Source

Facebook Comments

Leave a Reply

Your email address will not be published.