Twitter had a disappointing first quarter, and this was made even worse by the accidental leakage of its results.
Why it's interesting
What Twitter said
Dick Costolo, chief executive of the company, said he was confident about the company's long-term success, despite this dip:
While we exceeded our EBITDA target for the first quarter, revenue growth fell slightly short of our expectations due to lower-than-expected contribution from some of our newer direct response products. It is still early days for these products, and we have a strong pipeline that we believe will drive increased value for direct response advertisers in the future.We remain confident in our strategy and in Twitter’s long-term opportunity, and our focus remains on creating sustainable shareholder value by executing against our three priorities: strengthening the core, reducing barriers to consumption and delivering new apps and services.
The latest figures will do nothing to assuage investor fears that the company is unable to generate a revenue as powerful as its cultural influence, but the strong upward trend in share price may prove difficult to shift once the initial reaction has died down.