Facebook Reports Earnings, Just Beats Expectations But Stock Tumbles
For Facebook today is their real coming out party of sorts. But the party is getting mixed reviews. The managed expectations were met on revenue but some feel they were managed low (maybe Zuckerberg is channeling his inner Steve Jobs?).
There was a net loss of $157 million.
The stock market had reacted during regular trading hours by taking about 8.5% away from the stock price. After hours the plunge has continued. At this writing (5:13pm EST) the stock has dropped nearly another 10% in after hours trading.
This will be looked at ad nauseum for several days to come so let’s let the dust settle. Right now, it must be pretty nerve wracking in Menlo Park.