07/26/2012 03:59 pm ET

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

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...

07/26/2012 6:06 PM EDT

Aww, how cute

07/26/2012 6:05 PM EDT

Facebook, you're no fun

@ shibanijoshi :

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

07/26/2012 5:55 PM EDT

Well, this could appear condescending

07/26/2012 5:54 PM EDT

But what is he WEARING?

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

-- Dino Grandoni

07/26/2012 5:51 PM EDT

Say cheese...Hold it...Hold it...Hold it......

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

07/26/2012 5:47 PM EDT

Next he'll be wearing a tie

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

07/26/2012 5:46 PM EDT

Sorry, Bloomberg

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

07/26/2012 5:44 PM EDT

Fancy talk

07/26/2012 5:44 PM EDT

Quieting the rumors

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

-- Catharine Smith

07/26/2012 5:43 PM EDT

Facebook executives don't give forecast in prepared remarks

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