Twitter Trading Halted, Stock Nose Dives After Unplanned Earnings …
NEW YORK (CBS/AP) — Twitter’s (TWTR) stock is falling sharply after the company’s earnings — due to be released after the stock market closes — came out ahead of time.
Trading in its stock was halted Tuesday afternoon after word spread of the premature earnings release. When trading resumed, the stock fell more than 25 percent.
Some reports say the earnings leaked out. Bloomberg News cited research firm Selerity, which tweeted the results and said the report was “sourced” from Twitter’s website and was not the result of a “leak” or “hack.”
But Twitter claims that’s not the case and that they are in fact “investigating the source of the leak.”
The company later posted the results on its website and emailed it to reporters.
Its adjusted earnings per share topped Wall Street estimates but revenue fell short of expectations.
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Twitter Trading Halted, Stock Nose Dives After Unplanned Earnings …
