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Facebook First Earnings Report Today!



Filed under : Entertainment

Today, the street is watching….

Since they went public 2 months ago, the social networking giant is gearing up for its first earnings report today….

Facebook is set to announce a total of 1 billion users. Yes, you, me, Pookie & ’em.

The company has already claimed 901 million users in April. So the fact that it added 99 million users in three months isn’t that much of a stretch. Whether Facebook is actually at 1 billion is another story.

Today, Facebook will need to counter reports that its growth is slowing down.

Zynga, the company that delivers those Farmville games on Facebook that you are so fond of, on Wednesday reported a net income loss of $22.8 million for this quarter and revised its outlook for the rest of the year downward.

Well that announcements prompted a 40% drop in the Zynga’s stock in after hours trading, but also depressed Facebook’s stock by 6%.

Of course Zynga (via John Schappert, COO) blamed Facebook for the loss:

“Our users did not remain as engaged and did not come back as often. Instead new games were promoted.”

The two companies are still closely linked.

And in other social media news, Twitter is down….

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What do you think?

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Will Facebook surpass expectations?

Source: Mashable Business

farai – who has written posts on Farai Today.


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