Facebook's First Earnings Report Meets Expectations
Posted: 7/27/2012 | By: Jon Swartz and Matt Krantz | USA TODAY
SAN FRANCISCO
–
Facebook gave some investors a reason to exhale today, with revenue that
narrowly beat forecasts. But the company's stock is being crushed in
after-hours trading.
The social-networking giant, which went public in May with an eye-poppingly high valuation, reported on an adjusted basis a profit on revenue of $1.18 billion for its second fiscal quarter.
The social-networking giant, which went public in May with an eye-poppingly high valuation, reported on an adjusted basis a profit on revenue of $1.18 billion for its second fiscal quarter.