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Facebook 2Q 2012: Live Updates On FB's First Earnings Report

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Facebook 2Q 2012: Mark Zuckerberg and co. to release the company's first earnings report Thursday.
Facebook 2Q 2012: Mark Zuckerberg and co. to release the company's first earnings report Thursday.

Is Facebook ready to face facts? How much will investors like it after its first quarter as a public company?

Expect similarly awful wordplay on Thursday evening, when the world's largest social network releases its first-ever earnings report as a publicly-traded company. The company's financials for the second fiscal quarter of 2012 will be announced during an earnings call at 5 p.m ET. The pressure's on to see if Facebook can recover after its rocky initial public offering on May 18.

Questions that need answering: How many users has the network gained since the IPO? Will Facebook be able to prove it has a sustainable advertising business as so many people move to mobile? Will Facebook offer a forecast for its next quarter as Apple does, or will it follow in the footsteps of Google and forgo one? Will co-founder Mark Zuckerberg talk much about Facebook's business or defer to other execs? And will he be wearing his hoodie?

Stay tuned to find out...

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@ shibanijoshi : Even Facebook can't make an earnings call fun, unfortunately for us...

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Oh God, is Zuck wearing a hoodie?? Twitter is inconclusive... [sigh]

-- Dino Grandoni

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Instagram deal still hasn't closed yet. Zuck says no integration until that happens.

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This phone-or-no-phone question is interesting and all, but what I find interesting is that Zuckerberg actually answered a question on the call.

-- Mark Gongloff

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Zuck's denial of a Facebook Phone contradicts a rumor peddled by Bloomberg News JUST TODAY.

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Zuck says it wouldn't make sense to develop a Facebook phone. Take THAT, rumor mill.

-- Catharine Smith

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Forecasts are something Apple does but Google's doesn't do. So, at least there's precedent in tech for withholding predictions.

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Zuck says Facebook is the most-used app on any mobile platform. Too bad it is also one of the most unpleasant apps to use.

-- Catharine Smith

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According to Forbes, Zuck's net worth just dropped about billion.

Despite meeting analysts’ expectations and posting profits of .12 a share on .18 per share in revenue, Facebook was unable to appease the markets, which have been relatively bearish on social media companies this week. On Wednesday, social gaming company Zynga, which missed analysts’ estimates in its second quarter earnings call, watched as its stock fell more than 35% in after hours trading.

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Sheryl Sandberg congratulates Marissa Mayer for her new job at Yahoo.

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This partially explains the spike in "General & Administrative" spending during this past quarter.

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First analyst to say "Great quarter, guys" enters the Analyst Hall of Shame.

Nope, the first question is about monetization and expanded distribution agreements.

So, awesome, then.

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11 million businesses have Facebook pages, says Sandberg.

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Facebook's stock fell 8.5 percent during the regular session Thursday, then dropped further in extended trading after the company reported quarterly earnings for the first time as a public company.

More here.

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Sandberg says Sponsored Stories and News Feed are going to save Facebook, gives some details on return on ads.

Wahh, replies the stock price, now 11 percent down.

After 10 minutes, she hands the call off to the CFO David Ebersman.

-- Mark Gongloff

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Sandberg says Sponsored Stories (i.e. ads) rake in more than million a day, about half of that is from mobile users.

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Zuckerberg wraps up by talking about how Facebook just loves itself a good challenge, and it's going to spend lots of money to wrestle that challenge to the ground!

"We're working hard to staff up ... to make progress against these goals."

And with that, the stock, which had rallied a tiny bit on the sweet sound of Zuck's voice, is back down 10 percent.

Sheryl Sandberg has taken over the call now.

-- Mark Gongloff

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WSJ is reporting that Facebook had 955 million users in the second quarter. That's up from 739 million in the same time period last year.

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Zuck is talking about what a big opportunity mobile is for Facebook. He says mobile users are 20 percent more active than other users.

Now if they can just figure out how to make money on all that activity, they'll be all set.

-- Mark Gongloff

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That this is BREAKING NEWS says something about Facebook.

-- Mark Gongloff

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Look at the chart and spike in R&D spending (Facebook Phone?!), from AllThingsD.

facebook spending

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Facebook had 3,976 employees at the end of the first half, up 49 percent from a year ago.

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Via AllThingsD, here's the slide pack for Facebook's earnings. Enjoy its PowerPointy goodness if you wish, but it does not answer the burning question: Will Zuckerberg be on the call (T-10 minutes)?

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