After the announcements of first quarter earnings by the Twitter, the stock market reacted negatively for the company. The social media giant based in the United States saw a dip in the share prices. The share prices went below $40 mark. The stock value fell around 26 percent due to the quarter one earnings. This has reduced Twitter’s market capitalization by $6.1 billion. The NASDAQ, the well known market for the tech giant’s accidently published micro blogging platforms financial data earlier than expected. This triggered lower guidance and revenue expectations by the investors.
In November 2013, Twitter sold its share for $26 each and growth in the share value reached $74.73 in the month of December during the same year. The investors were hoping that shares will generate more revenue like Facebook. But the situation is actually the opposite today as share fell around two-fifth of its value last year. Independent data gathering company Selerity, founded by ex-Thomson Reuter’s executives tweeted its own first quarter results with the hashtag ‘Breaking’.
The detailed report is out on Twitter’s investor relations website. The report was published through NASDAQ’s very own Shareholder.com service and its early release has questioned the security of this platform as this is the second incidence of the high profile leak. Last year, JP Morgan’s quarterly resulted were leaked an hour before the scheduled release. The shares were trading around 1 percent low on Tuesday but rate increased to 6 percent by the end of the day. Twitter officials have said that the company didn’t perform as per the expectations.