Social media is increasingly being used by major companies as a way of interacting with their shareholders and the public.
Twitter, LinkedIn and Facebook form the bulk of the platforms that are being used by companies to distribute their financial results to the world at large. The social media activities of the ASX 100 were recently assessed by FTI Consulting who found that 49% of companies released the latest full or half year results via social media. This compares with 64% of companies on the FTSE 100.
It was further found that companies including Wesfarmers, BHP Billiton and Rio Tinto were amongst the highest users of social media in Australia but they were not alone with others such as Oil Search and Treasury Wines also quite active. Others such as QBE and Telstra use an app (Periscope) to post live streaming video footage direct to Twitter.
In this day and age of social media overload, the savvy investor is able to keep abreast of company activity whilst also gauging the feelings of others about the companies they invest in and their results.
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