The social networking giant reports its second-quarter results after market close. It's the company's first quarterly report since going public in mid-May.
Facebook Q2 Results
NEW YORK (TheStreet) -- Facebook(:FB) reports its first quarterly results after market close, its first report since the company's botched IPO in May.
The largest ever U.S. tech IPO certainly grabbed the headlines, but Facebook must now get down to business as a public company.
The social networking giant has seen its shares slump almost 28% since it took the public plunge and there are concerns that this trend will continue, particularly after weak second-quarter results from Zynga(:ZNGA) on Wednesday. The online gamer, which is a key Facebook partner, cut its full-year earnings guidance, citing "a more challenging environment on the Facebook web platform."
Analysts surveyed by Thomson Reuters are looking for second-quarter revenue of $1.146 billion and earnings of 12 cents a share. For the third quarter, Wall Street expects sales of $1.24 billion and earnings of 12 cents a share.
Investors on the conference call will be also be listening out for information about the company's attempts to exploit mobile, which is seen as key to Facebook's future.
TheStreet will be live-blogging Facebook's results, starting at 3:45 p.m. ET.
--Written by James Rogers, Chris Ciaccia and Nathalie Pierrepont in New York.
>To submit a news tip, send an email to: email@example.com.
Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.