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Drew Olanoff
Drew Olanoff was The Next Web's West Coast Editor. He coined the phrase "Social Good" and invented the "donation by action" model for onlin Drew Olanoff was The Next Web's West Coast Editor. He coined the phrase "Social Good" and invented the "donation by action" model for online charitable movements. He founded #BlameDrewsCancer. You can follow him on Twitter, Google+, Facebook, or email [email protected]
Even though Facebook hit its earnings projections right on the nose, after hour trading is not being kind to the company.
Facebook stock dropped to a new low of $25, down almost 6%.
UPDATE: Currently, the stock sits at $24.43, down 9% in after hours trading.
Here are the details from from its earnings report:
Today Facebook reported its second quarter financial results, including revenues of $1.18 billion, and earnings per share of $0.12. Analysts had expected revenues of $1.15 billion, and non-GAAP earnings per share of $0.12. Ad revenue was expected to be $921 million. For the quarter, the company reported ad revenue of $922 million, beating that expectation by a hair.
Here’s a look at Facebook’s rocky last few days:
The company is closing in on one billion users, which is a milestone that many are waiting for.
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