Facebook, Inc. (NASDAQ: FB) is out with its first earnings report as a public company and Wall Street is so far taking back some of Thursday’s losses. The social networking behemoth reported earnings of $0.12 EPS on $1.18 in revenue, while its GAAP earnings figure was -$0.08 EPS. Thomson Reuters had estimates of $0.12 EPS and $1.15 billion in revenue. The stock was under a dark cloud all day after the huge disappointment from Zynga, Inc. (NASDAQ: ZNGA) took out almost 40% from the social gaming company’s share price. Advertising revenue was $922 million or 84% of total revenue for Facebook.
Bloomberg gave a couple of metrics to watch. It was expecting 950.1 million monthly active users versus 901 million at the end of the first quarter. The company said that its monthly active users were 955 million at the June 30 end. Bloomberg also noted that the options market was pricing in a move of up to 12% in either direction.
We would note that Facebook reported first quarter revenue of $1.058 billion versus $731 million for the first quarter in 2011. That was disappointing there was a sequential decline in revenue. That appears to be changing. Facebook closed down 8.5% at $26.84 and the post-IPO range has been $25.52 to $45.00. The initial trading in the after-hours is up over 3% at $27.80.
JON C. OGG
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
