CORRECTED: Twitter Shares Fall After Weak Outlook, Company Misses Sales Expectations

(Correcting top end of revenue outlook for 2015) Twitter Inc. shares fell 20% after the company missed first-quarter sales expectations and offered a weak outlook for the second quarter and full year. Twitter reported a net loss of $162.4 million, or 25 cents per share, wider than the loss of $132.4 million, or 23 cents per share in the year-earlier period. The company reported adjusted earnings per share of 7 cents, above the FactSet consensus of 4 cents. Twitter sales were $435.9 million, below the FactSet consensus of $464.3 million. Twitter said it now expects second-quarter revenue of $470 to $485 million and revenue for 2015 of $2.17 billion to $2.27 billion. The FactSet consensus is for second-quarter revenue of $538 million and $2.374 billion for the full year. The Twitter earnings were leaked ahead of the planned release time by financial data platform Selerity.