Tomahawk, WI 7/26/12 (StreetBeat) – Facebook (Nasdaq: FB) is due to report its much anticipated earnings after the market close today. This is a stock that will be a long-term investment and is not dependent nearly as much as most every other stock on its earnings and revenue numbers as opposed to its number of subscribers.
Facebook is, by far, the most popular social network after surpassing MySpace years ago with its user-friendly apps and popular games but has frustrated investors and potential investors by not taking advantage of the potential revenue from its subscriber base of a billion plus.
The stock is a heavily traded stock, averaging more than 46 million shares per day, with a range between $25.52 and $45.00 since its IPO back in May.
Currently, Facebook has a market cap of $63 billion and closed yesterday at $29.34 per share.
In pre-market trading, shares were down more than 6 percent at $27.50 per share with traders expecting disappointing results.
Estimates are calling for earnings of $0.12 per share on revenue of $1.15 billion.