Where oh where could they have gotten that information? It appeared at first to be a leak, but as Selerity pointed out, the earnings release was already live on Twitter’s investor relations site. (We’re not totally clear on the chronology of events here, but we first saw the numbers thanks to Selerity, and we weren’t the only ones.)
Trading was halted after shares plummeted, but it has since resumed, and TWTR closed more than 20 percent below its price an hour earlier. Why did it take such a hit? Well, after several quarters of solid financials combined with weak user growth, the company’s revenue of $436 million fell short of analyst estimates; guidance was down, too.
In conjunction with its earnings report, Twitter also announced that it has acquired Facebook ad partner TellApart.