Facebook Announces July 26 Q2 Earnings Call, Its First as a Public Company
Facebook updated its investor relations page on Friday, announcing July 26 as the date for the second quarter results of the company’s financials. It is the first earnings call for the company since it went public in May.
It will no doubt be a closely scrutinized first earnings call, as the company continues to face mounting questions on its advertising strategy, its potential for mobile monetization and the impact of a slowing signup rate on the site as a whole. This, especially in light of a decline in overall revenues moving from the fourth quarter of 2011 into the first of this year, and a reported sharp last-minute curtailing of analyst’s estimates in the days leading up to the IPO process.
Also of note: It’s the first earnings call for CEO Mark Zuckerberg, the 28-year-old company CEO who, in his founder’s letter accompanying the company’s S-1 filing, has essentially made no bones about showing his complete lack of concern for what Wall Street thinks of his leadership.
As Zuckerberg famously stated in the letter: “We don’t build services to make money; we make money to build better services.”
Though noble in his intent, those lofty aspirations will do little to sate the investment banks, retail investors and those who have poured billions into one of the most highly sought tech stocks of the past decade.
Others I’d expect to see on the call include COO and newly appointed boardmember Sheryl Sandberg, the woman who led the charge of turning an immensely popular social startup into a viable business. CFO David Ebersman will also most likely be on the call, though it will be interesting to see how active of a role he’ll take, considering the amount of flak received after May’s ugly IPO.
But as the person in control of Facebook with nearly 57 percent of voting power granted by his shares, Zuckerberg needs to be the one to take charge of the call. And with less than a month to go before his big day, he’ll have time to practice.