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Twitter stock tumbles after earnings come out early

1 year 7 months 1 week ago April 28, 2015 Apr 28, 2015 Tuesday, April 28 2015 April 28, 2015 3:03 PM in News
Source: Associated Press
By: Barbara Ortutay

NEW YORK - Twitter's 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."

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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