Twitter's share price just fell another five per cent

 
Emma Haslett
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Revenues fell short of expectations when they were posted yesterday (Source: Getty)

Another bad day for Twitter, after its share price fell more than five per cent to $39 in mid-morning trading in New York.

More on this story: Twitter shares plummet as results are leaked early

That follows a massive fall yesterday, after its results (which weren't great) were leaked early on Twitter's investor relations site - and tweeted by financial information platform Selerity. Shares were suspended from trading following the incident - but when they came back, they fell as much as 26 per cent.

The microblogging platform has had a fairly blessed few years as a public company. After Facebook's IPO went horribly awry, Twitter took an incredibly cautious approach to its own flotation - even doing a dress rehearsal.

As a result of its caution, shares rose 44.5 per cent last year. But meeting the high expectations of shareholders has clearly become more difficult. Its results yesterday showed revenues rose 74 per cent to $436m (£284m) in the first three months of 2015. But despite the sort of rise most of its peers on NYSE can only dream of, revenues still missed expectations of $456.2m.

Yesterday chief executive Dick Costolo said the company was "confident in our strategy".

"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."

Let's hope it's enough to meet Twitter shareholders' high expectations.

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