This Firm Pushed Twitter Stocks Down By 'Leaking' Its Quarterly Earnings On Twitter

29/04/2015 2:28 PM IST | Updated 15/07/2016 8:25 AM IST
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A financial services company reportedly disclosed Twitter's quarterly earnings about an hour before the company released the details, driving its stock down around 18 percent.

Selerity broke the news on Twitter by saying that the company missed its revenue expectations and that its users grew, reported The Verge.

Twitter termed the incident a "leak," saying that it halted trading upon discovery and is now probing the source.

Brendan Gilmartin, a Selerity sales executive, however, refused to admit that the revelation was a leak.

Gilmartin said that whenever a company is due to release its earnings, Selerity checsk the company's website periodically to see if the numbers are available. He added that Twitter must have "mistakenly" posted the earnings to the website early.

This is not the first time that Selerity has broken earnings numbers. Forbes said that it did the same thing with Microsoft in 2011.

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