Twitter misses forecasts after results are published early – on Twitter

Twitter Headquarters

Twitter shares plummeted Tuesday after its earning results were published early – on Twitter.

The company had been expected to release its latest quarterly earnings figures after the stock markets close at 4pm. The company’s shares were briefly suspended and plummeted 20% when trading began again.

The number of monthly active members climbed 18% to 302 million, compared with 20% in the prior quarter, Twitter said in a statement Tuesday. Revenue rose 74% to $436m, missing analysts’ expectations of $456.2m.

Selerity, the finance company that shared the results early on Twitter, said that they neither hacked nor received a leaked press release.

They simply used the company’s investor relations website, where the company had posted a press release with the headline “Twitter Reports First Quarter 2015 Results; Lowers Full-Year 2015 Expectations.”

In the prematurely released statement, Dick Costolo, Twitter’s CEO, said: “Revenue growth fell slightly short of our expectations due to lower-than-expected contributions from some of our newer direct response products.”

“It is still early days for these products, and we have a strong pipeline that we believe will drive increased value for direct response advertisers in the future. We remain confident in our strategy and in Twitter’s long-term opportunity, and our focus remains on creating sustainable shareholder value by executing against our three priorities: strengthening the core, reducing barriers to consumption and delivering new apps and services.”

Powered by article was written by Dominic Rushe and Sam Thielman, for on Tuesday 28th April 2015 21.15 Europe/ © Guardian News and Media Limited 2010