Facebook announced that it will present its financial report for the third quarter Oct. 23. Much has changed since Facebook’s second-quarter report July 26, when the company reported that it lost $156 million in that time frame, despite an increase in revenue. What will Co-Founder and CEO Mark Zuckerberg say about Facebook’s progress over the past three months?
Second quarter report
News of Facebook’s second quarter report didn’t just hurt the company’s stock, it left a bit of a dent in Co-Founder and CEO Mark Zuckerberg’s wallet. CNET reported today that since the market closed on Wednesday, Zuckerberg is down nearly $3 billion.
Facebook’s first quarterly financial report since going public offered some good news and some bad news for the company. The good news? Facebook is continually gaining users, especially on mobile. The bad news? The company took a major financial hit in stock compensation after the post-initial public offering freefall. But the three executives on Thursday’s earnings call — Co-Founder and CEO Mark Zuckerberg, Chief Operating Officer Sheryl Sandberg, and Chief Financial Officer David Ebersman — are confident in Facebook’s future.
Today is the most anticipated day for Facebook since the company went public May 18. The social network will release its second-quarter financial report at 5 p.m. ET/2 p.m. PT, giving the world a first glimpse into Facebook’s books. Several outlets have been speculating about just what is in this report.