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Goldman Sachs Earnings Are Moving to Twitter

Goldman is putting out its own results to assume more control over potentially market-moving information.

The Wall Street firm plans to disseminate its quarterly earnings statement next week through its website and Twitter TWTR 8.00 % feed, eschewing the independent business wires that for decades have been the preferred medium for sending out corporate news releases.

Those distribution companies have hit a number of glitches lately, including several instances in which sensitive client information was released early and one in which they were targeted by hackers.

Goldman is putting out its own results to assume more control over potentially market-moving information, a step the firm had considered for some time, a person familiar with the plans said. The widespread use of social-media sites such as Twitter Inc. has helped make the switch possible, the person said.

Some technology companies, including Twitter, have already cut the cord on distributors such as Business Wire and PR Newswire Association LLC on earnings releases. Goldman’s move, though, follows a raft of criminal indictments that U.S. authorities filed in August against a group of traders and computer hackers alleging they schemed to gain early access to news releases on...


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