Twitter updates Periscope app day after stock meltdown
Early leak of earnings report leads to Twitter’s stock price falling 18 percent before company requested that trading on the stock be halted for the day
The joys of social media, many companies know that tweet here and a tweet there and before you know your marketing message is in trouble. Ironically, Twitter learned that lesson yesterday when its earnings report was leaked early and the financial intelligence service Selerity posted four tweets spreading the news that Twitter had missed revenue estimates (though revenue did, in fact, rise an impressive 74 percent).
Normally companies release their earnings either before the market opens, or more commonly, after the market closes. One good reason for this is it that allows a little reflection for investors, as well as an opportunity for company management to explain themselves. But Selerity found the earnings report online – as they said, this involved no hacking on their part – and so just before the close of trading Twitter stock got hammered, falling 18 percent. Twitter immediately request that trading in their stock get halted, and it did. This morning Twitter’s stock is trending modestly down (as are markets across Europe).
(You can read the Twitter earnings release announcement here.)
This morning comes an update for Twitter’s social video app, Periscope. Yesterday, Twitter said that over 1 million users downloaded the app in the first 10 days after it was released.
Many now wonder if the app will have legs. That is, while the tech press has been effusive, many who have actually used the app have found the video “tweets” rather amateurish and trivial (who many videos of folks walking to Starbucks to there need to be?). But this may change over time, and the first news event where Periscope becomes a main source of information could change things (I wondered whether the recent violence in Baltimore might be that time).
Here is the app update information:
What’s New in Version 1.0.3
[+] From your profile you can now view your broadcast history from the past 24 hours.
[+] From anyone else’s profile, you can see if they are currently LIVE, or view their recent broadcasts from the past 24 hours.
[+] Improved account sign up process for new Periscope users.
Other bug fixes/changes:
– Fixed a bug requiring users to sign in to Twitter in the ‘Settings’ app on their iPhone before tweeting that they were live.
– Fixed A LOT of crashes (thanks for bearing with us!).
– Stopped auto-capitalizing full names and auto-lowercasing usernames.
– Broadcasting with the front facing camera will look like a mirror to you, but show the correct image orientation to your viewers.