Twitter shares slammed after disappointing results


By David Gaffen

Micro-blogging website operator Twitter Inc (TWTR.N) reported quarterly revenue below Wall Street expectations, causing shares to drop sharply in the last hour of trading.
Twitter’s results were leaked early by Selerity, a financial data company; they were scheduled for release after the close of trading. Selerity leaked results from Microsoft once in 2011.
Twitter’s net loss widened to $162.4 million, or 25 cents per share, in the quarter ended March 31 from $132.4 million, or 23 cents per share. The company also noted a significant decline in “ad engagement growth,” and its revenue of $436 million was well short of analyst expectations for $458 million.
Shares lost 15 percent to $43.16.
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