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TechCrunch published Snap's earnings almost 10 minutes before they were released
@alexeheath:
TechCrunch appears to have published a prewritten Snap earnings story before the numbers actually went public. Post has been taken down but was up for a few minutes https://t.co/ZlxmDSvHo5
Wait is this common? How often do journalist get Earning Reports before they are publicly released? I thought most of the stories published after earnings are made using things like automated journalism, also known as algorithmic journalism
One of the replies to the tweet says that they can give journalists the numbers early along with an NDA. That makes sense to me, but I have no idea how common it is.
Depending on jurisdiction, you'd make insiders out of everyone who's got access to this information before it's public. That'd mean registering all journalists/editors etc. who have access to these figures for any listed company with the relevant stock exchanges.
I don't think that's actually common. And in many instances of it happening, I expect what's been going on to be illegal.
For things that don't relate to business info and therefore imposes these legal issues, I'm sure pre-release with a deadline ahead of time is pretty common. That's a way of ensuring you get the spin you like on a story, but alternatively it's a way of giving journalists time to do a proper job examining things so they don't need to buy the spin of whoever's written a report or present some news they want shared.