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Dublin: 11 °C Wednesday 8 July, 2020

Twitter's results have leaked early, and they're not pretty...

Shares in the social media giant dropped dramatically in the aftermath.

3807866838_34d927d148_o Source: Mambembe

SOCIAL MEDIA BEHEMOTH Twitter has posted its first quarter results for 2015 and all is not well with the company from a financial point of view it seems.

The company’s results were leaked 30 minutes early to the masses by research firm Selerity, and the company’s share price took a nose-dive as a result.

Selerity later tweeted that they had gotten the results directly from Twitter’s investor relations website and that nothing untoward had gone on with the leak.

The company’s share price fell initially by 6% following the Selerity leak, and an enormous 22% to about €35.65 after the results proper were posted.

The incredible fall in the company’s stock can be seen in this graph:

Twitter Source: Google Finance

Twitter have officially blamed the American stock exchange Nasdaq for the leak, with their director of investor relations telling an earnings call that the company is”continuing to investigate what happened”.

Nasdaq hosts and manages our investor relations website and we explicitly instructed them not to release our results until after the market closed and only upon our specific instructions, which is consistent with prior quarters.

As for the results themselves, revenue for the quarter was €396 million, against forecasts of €415 million.

For context of their relative financial worth, Apple yesterday posted first quarter revenues of €52.3 billion, a factor greater of about 110 to 1.

Indonesia Twitter Twitter CEO Dick Costolo Source: AP/Press Association Images

Average monthly active users of Twitter totaled 302 million in the first quarter, up 18% from the prior year and up from 288 million in the previous quarter.

Average mobile monthly active users were 80% of the monthly active user total, indicating a user base of about 375 million people worldwide.

Read: There wasn’t a mention of Apple Watch sales by Tim Cook today

Read: Twitter steps up its efforts to fix one of its biggest problems

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