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Facebook will report earnings for the first time ever tomorrow.
It's not the IPO big day, which turned out to be a total FAIL! day. Rather, it's Facebook's first quarterly earnings report as a public company, due to arrive tomorrow.
Though there’s a lot riding on its second-quarter earnings report — Wall Street analysts aren’t expecting big surprises. Why? Facebook effectively warned investors before its IPO that Wall Street’s expectations were too high. In a filing issued a week before its IPO, Facebook said its mobile users are growing at a faster pace than the number of ads on its mobile platform.
As a result of that disclosure and others, many analysts reduced their estimates for Facebook’s projected revenue and earnings.
On average, analysts are expecting Facebook to post earnings of 12 cents per share on revenue of $1.16 billion, according to a poll by FactSet. In all of 2011, it had net income of $1 billion and revenue of $3.71 billion, according to regulatory filings.