Twitter has posted its first-quarter financials, showing increased losses of $162m and lower than predicted revenue rises. The results, and the leak of the numbers, prompted a fall in the company's market value.
Twitter's Q1 results led to a revision of earlier predictions. The firm has seen increased revenues and user numbers, but a rise in losses.
Losses for the quarter were $30m more than in the same period last year. Revenues were $436m, a shade under the predicted $450m. Sales were up 74 percent on the previous year, but still missed analyst expectations.
Twitter said in a statement that its long-term strategy should play out as expected and put the firm back into positive numbers.
"While we exceeded our EBITDA target for the first quarter, revenue growth fell slightly short of our expectations due to lower-than-expected contributions from some of our newer direct response products," said Dick Costolo, chief executive of Twitter.
"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."
Twitter also announced that it has acquired an online advertising and marketing company called TellApart, and signed an advertising partnership with Google DoubleClick.
The firm was able to boast an active monthly user rate of 302 million, an 18 percent increase against the same time last year. Advertising revenue for the quarter came in at $388m, up 72 percent year on year.
Twitter attributed the disappointing elements of its results to newer, direct-response advertising practices that have not taken off.
The firm's official announcement was spoiled by the leaking of the numbers on Twitter itself. This caused trading in the firm to be suspended and contributed to a shaken investor market and a fall in Twitter's share value of 20 percent.
The leak was attributed initially to a company called Selerity, which denied responsibility and malice.
Twitter said that it is looking into the matter.
We are investigating the source of the leak. (2/2)— TwitterIR (@TwitterIR) April 28, 2015
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