Facebook’s Earnings Disappoint Investors
Source: NY Times
SAN FRANCISCO Facebooks first earnings report as a public company contained some good news Thursday, but still disappointed investors, who fled from the stock in after-hours trading.
Although the companys revenue grew a bit beyond analysts expectations, user growth inched up only slightly.
The company reported a net loss of $157 million, or 8 cents a share, compared with net income of $240 million, or 11 cents a share, for the same quarter last year.
On an adjusted basis, the company reported a per-share profit of 12 cents, or $295 million.
Read more: http://www.nytimes.com/2012/07/27/technology/facebook-reports-a-loss-but-its-revenue-beats-expectations.html?_r=1&hp
L0oniX
(31,493 posts)DaveJ
(5,023 posts)I like (tm) Facebook, really, but I'm still perturbed by the current Dot com business culture. Zynga lost 40% of its value yesterday. Problem is these tech entrepreneurs are more like vile street hustlers. Any website can come along and do what they do, but they hustle their way to gain exclusive access to a market rather than showing more interest in the internet than themselves. I predict many of these IPOs will continue to go down as others enter who do the same thing, and as people begin to realize there is more than ONE social networking site, more than ONE game site, etc. One thing I'll give them credit for is being the first, at least they are not short sited like many businesses who refuse to adopt new technology.
Clear Blue Sky
(2,156 posts)Javaman
(62,497 posts)they must be disappointed daily.
morons.
Raster
(20,998 posts)Javaman
(62,497 posts)the billionaire with a schtick.
Raster
(20,998 posts)....and Zuckerberg's was his "just a hoodie-wearin' hacker that dropped out of Harvard" routine. And unfortunately the greedy slugs of Wall Street bought his act hook, line and sinker. Z-boy faithfully wore his hoodie to every stop on FB's roadshow. It was his costume for his role.
Fuck Facebook. Their 15 are over. The stock needs to drop another ten dollars or so, per share.
Incitatus
(5,317 posts)It must have been a bargain.
mikeytherat
(6,829 posts)mikey_the_rat
Roland99
(53,342 posts)4th law of robotics
(6,801 posts)and that gives away it's sole product for free wouldn't be wildly profitable.
MrNJ
(200 posts)Because FB is exactly the same.
They should be reminded the definition of insanity...