"We believe shares are likely to recover when we see a reacceleration of revenue growth above the 30% rate, with some expansion in margins, but the 2Q report is not likely to inspire," wrote Rohan in a financial report, noting that he expects Facebook's earnings to come in slightly above Wall Street expectations. "While audience and product milestones are impressive, investors expect significant earnings upside, which is unlikely."

Nate Elliott, an analyst with Forrester, also anticipates that Facebook will show some positive numbers.

"I expect we're going to see really positive ad revenues from Facebook this week," he said. "The natural momentum of being a cultural phenomenon, plus the added momentum of going public, will surely have brought more marketers to the site, money in hand. And not many marketers are asking yet what business value they're getting from Facebook. Most are still content to simply count fans and likes."

Elliott added, though, that marketers and advertisers will begin to want proof of value, Facebook will need to prepare to prove its business value.

Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at , on or subscribe to . Her email address is .