Leaked Twitter results has seen the market value drop by 24%, the Twitter stock crash sees share price fall by around a quarter.
It seems the quarterly figures that were leaked failed to meet investors’ expectations; it was financial intelligence platform Selerity that published the results first after apparently finding them on Twitter’s own investor relations website.
Nasdaq told Bloomberg as reported by Business Insider, “The Twitter earnings had been inadvertently released by shareholder.com, the exchange’s website.” It is Nasdaq who hosts Twitter’s IR website. Twitter’s user growth in April was very slow, with weak demand for its new ad system, leading to a drop in value of up to 24%.
The expected revenue for Twitter was expected to be somewhere around $2.3bn in 2015, but yet estimates show £2.2bn.
In a nutshell Twitter did post a loss of $162 million, compared to its $132 million loss during the same time period the previous year. All-in-all Twitter lowered its direction for next quarter to between $470 and $485 million.