Facebook Brings Revenue Upside With Earnings
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,…
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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
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
