Nasdaq snafu leads to Twitter earnings leak

Nasdaq snafu leads to Twitter earnings leak

Nasdaq says that it is to blame for the early publication of Twitter's first quarter earnings report yesterday, the details of which were quickly posted on the victim's own site causing its stock price to plummet.

Yesterday afternoon "financial intelligence platform" Selerity began tweeting details from Twitter's Q1 report an hour before their intended publication. The information did not come from any shadowy source but a Twitter press release on its own investor relations page, which was picked up by Selerity's web-crawling software.

The financial results, which should have been released after the close of trading, showed that Twitter had missed its revenue expectations by a wide margin, causing shares to tumble 18% and the Nyse to briefly halt trading in the firm.

Nasdaq admitted that it was at fault, with spokesman Joe Christinat telling the WSJ: "Our inadvertently made an early version of Twitter’s earnings release publicly accessible. We’re investigating the root cause. The issue did not impact other clients."

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