Twitter Falls on Revenue Miss

Also buys direct response ad company TellApart
Author:
Publish date:
Twitter HQ (Flickr).jpg

Shares in Twitter plunged after the company posted first quarter revenues that missed Wall Street expectations, and paired that with lower guidance.

Trading in Twitter shares were halted after its earnings leaked prior to the close of the market on Tuesday. Twitter shares closed Tuesday at $42.27 each, down $9.39 (18.18%).

"We asked @nyse to halt trading once we discovered our Q1 earnings numbers had leaked, and published our results as soon as possible," Twitter's investment relations handle Tweeted Tuesday. "We are investigating the source of the leak."

For the full story go to Multichannel.com.

Related