We'll be back @ 2 p.m. PT to cover the earnings call. Stay tuned.
Hey all. Time for all things Facebook. Big numbers, and Wall Street isn't happy. The conference call starts in about 15 minutes.
Stock's getting creamed. Now down around 18% after hours...
@Paul Crandall. I agree. This is a time for Mark to show the Street he can lead.
Meeting expectations (that you, the company, guide is one thing. Now they need to be specific about what's coming...)
Leave it to Facebook to provide lots of nice charts.
Hard to separate out the bad buzz around Facebook, but the report was hardly a disaster. Solid, even. Maybe that's a
small consolation to anyone who bought at 38 back in May.
That's true -- it *was* a respectable quarter. But stock prices are forward
looking. What comes out on the call will be critical.
To Zuck or not to Zuck, that is the question. Given all the handwringing about Facebook just now, one would think that he has EXTRA incentive to make a cameo this time around.
Facebook is turning into a short sellers dream.
3 minutes to post time and the stock's down 17% in after-hours trading.
Some of the nerves might be related to second quarter costs and expenses nearly tripling to $1.9 billion. But most of that is due to share-based compensation expenses.
@ Paul Crandall - yes, big possibilities. But all still to come.
Citi's Mark Mahaney just issued a report calling the numbers "a modest beat."
Zuckerberg kicks off the festivities.
Zuck says that "hopefully," listeners will come away from today's call with a clear idea where Facebook's heading. I bet.
Meanwhile, check out the slides. Facebook continues to grow its user base and average revenue per user (ARPU). However, outside the U.S., where most of the user growth is happening, the ARPU is far less than in North America (see the charts below).
Back to Zuck, expect to see frequency of improvement to different
Zuck: Goal is to to build a successful social platform that allows developers to better
integrate with Facebook.
Zuck does the vision thing, imagining a day when you buy a new car, then log in to Facebook and get new music, etc.
based on social preferences. Meh.
Zuck is talking up all the open graph apps out there. says people are sharing nearly $1 billion pieces of info every day using Open Graph
Says that largest open graph users / partners tend to become advertisers
Social ads - says best ads are messaging from a friend
content from people you care about - that's what marketers want.
He's talking about mobile users and social ads. He says social ads give clear path to mobile.
By end of June , sponsored stories in News feed was over $1 million a day and half of that was from mobile.
Here's a news nugget: Zuckerberg says that Facebook is looking to increase the percentage of ads that are social over the next three years.
Here is Sheryl Sandberg, COO, talking about the unique ad capabilities.
Sheryl Sandberg taking over for Zuck. Someone from tech support ought to fix her mic. She sounds like she's with Captain Nemo 20,000 leagues under the sea.
She says marketers know that a recommendation from a friend is the most powerful way to sell a product.
Over past quarter, made progress in monetization -- rolling out new products and making it easier for advertisers to advertise with us.
She's talking about sponsored stories. Example: Wal-mart can pay to have someone's post spread among friends.
FB users spend a large percentage of time on news feed, and that lets marketers reach people easily