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On April 28, 2015, Twitter released its first quarter 2015 financial results and provided its outlook for the second quarter of 2015, projecting second quarter revenue of $470 million to $485 million. Twitter also lowered its full year 2015 revenue forecast to between $2.17 billion and $2.27 billion from prior guidance of $2.30 billion to $2.35 billion. On this news, Twitter stock fell $9.39, or 18.18%, per share to close at $42.27 on April 28, 2015.
On July 28, 2015, post-market, Twitter issued a press release announcing its second quarter 2015 financial results and provided its outlook for the third quarter of 2015, projecting third quarter revenue of $545 million to $560 million. Twitter also provided its outlook for the 2015 full year, projecting revenue in the range of $2.20 billion to $2.27 billion. On this news, Twitter stock fell $5.30, or 14.51%, per share to close at $31.24 on July 29, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP