Business
Facebook: Facing The Books
In the wake of Facebook’s botched initial public offering and subsequent stock decline, pressure is building for CEO Mark Zuckerberg to post solid results when the social giant reports 2nd quarter earnings on Thursday.
- The suspense was thick:
What can we expect from Facebook in its first earnings report? [PREVIEW] cnb.cx/PMErOV $FB- Shortly after 4pm, Facebook's first-ever earnings report was in the public's hands:
- EARNINGS ALERT: Facebook Q2 EPS $0.12 vs. $0.12 est.; Q2 revs. $1.18B vs. $1.15B est. QUOTE: cnb.cx/quoteFB
- The effect on the stock at first?
- But then...
Hmmm. So $FB shares spiked 3% after reporting earnings, but now negative (slightly). cnb.cx/KuPYxh
$FB now down 5% after-hours. Rptd pre-tax GAAP loss and leaps in capex. Meanwhile, margins shrink and user growth slows. @CNBCClosingBell- In a nutshell:
Facebook hit an after-hours high of $28.19 at 4:11pm & after-hours low of $23.75 at 4:36pm. 15% swing in 25 minutes. (via @HumOnTheMarkets)- Apparently, social media stocks across the board were down.
The social stocks' Sea Of Red: - Tweeted reaction to the report?
- Facebook's capital expenditures up 213% to $413 million, a sticking point for investors. (via @kaylatausche)
Zuckerberg's net worth drops $2 billion as shares fall after earnings report, writes @RMac18. bit.ly/MMnIsi- The next question was will Mark Zuckerberg join the call to disucss Facebook's earnings reports? More suspense.
