NASDAQ Unit Behind Twitter Earnings Leak

By Earnings FOXBusiness

Nasdaq (NDAQ) has confirmed to that it was responsible for the Twitter (TWTR) earnings leak after its unit, which handles investor services, published the first quarter results before the close of trading Tuesday.

Continue Reading Below

“At 3:07pm, inadvertently made an early version of Twitter’s earnings release publicly accessible. We are investigating the root cause. It did not impact any other clients,” said Joe Christinat, a Nasdaq spokesperson. 

The leak, which was picked up by multiple media outlets, caused Twitter shares to plummet by as much as 7% before the stock was halted.  Twitter wound up releasing the earnings shortly before the closing bell. Shares tumbled 18% to $42.27 after revenue missed Wall Street forecasts. 

Both The New York Stock Exchange (ICE), which won Twitter's IPO listing, and Nasdaq confirmed that all trades in Twitter will stand despite the early release.

This is not the first snafu at The investor relations services company was linked to a similar problem with J.P. Morgan’s (JPM) earnings in October.  Nasdaq purchased the unit in 2006. 


Continue Reading Below