Monday, April 23, 2012

Reuters: Technology News: Facebook reveals revenue, profit slide ahead of IPO

Posted by Isabella on 1:50 PM

Reuters: Technology News
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Facebook reveals revenue, profit slide ahead of IPO
Apr 23rd 2012, 20:21

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The Facebook logo is shown at Facebook headquarters in Palo Alto, California May 26, 2010. REUTERS/Robert Galbraith

The Facebook logo is shown at Facebook headquarters in Palo Alto, California May 26, 2010.

Credit: Reuters/Robert Galbraith

SAN FRANCISCO | Mon Apr 23, 2012 3:59pm EDT

SAN FRANCISCO (Reuters) - Facebook Inc's first-quarter revenue climbed 45 percent to just over $1 billion as daily active users leapt 41 percent, the world's largest social network disclosed ahead of its landmark initial public offering.

Facebook added more than 1,000 employees in the year ended in March, taking its headcount to 3,539, it said in an updated filing with the U.S. Securities and Exchange Commission.

Revenue grew to $1.058 billion from $731 million in the year-ago quarter. Average monthly active users increased to 901 million as of March 31, 2012, from 680 million a year ago.

Net income fell to $205 million from $233 million over the same period, according to the filing.

Facebook is preparing for an IPO that could value it at up to $100 billion and could come as early as May.

(Reporting By Alistair Barr and Alexei Oreskovic; Editing by Gary Hill and Richard Chang)

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Comments (1)

Facebook bought Instagram for $1 billion and AOL patents from Microsoft for over $500 million. That $1.5 billion spent negates the earnings.

Apr 23, 2012 4:03pm EDT  --  Report as abuse
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