Why calling react setState method doesn’t mutate the state immediately?

I’m reading Forms section of reactjs documentation and just tried this code to demonstrate onChange usage (JSBIN).

var React= require('react');

var ControlledForm= React.createClass({
    getInitialState: function() {
        return {
            value: "initial value"
        };
    },

    handleChange: function(event) {
        console.log(this.state.value);
        this.setState({value: event.target.value});
        console.log(this.state.value);

    },

    render: function() {
        return (
            <input type="text" value={this.state.value} onChange={this.handleChange}/>
        );
    }
});

React.render(
    <ControlledForm/>,
  document.getElementById('mount')
);

When I update the <input/> value in the browser, the second console.log inside the handleChange callback prints the same value as the first console.log, Why I can’t see the result of this.setState({value: event.target.value}) in the scope of handleChange callback?