Baku - APA-Economics. Facebook’s first-quarter net income fell 12 per cent, weighed down by higher expenses even as its revenue soared, the social networking company said on Monday, just a few weeks ahead of its expected initial public offering in May.
Facebook Inc said in a regulatory filing that its net income fell to $205 million in the three months that ended March 31, from $233 million a year earlier.
Net income attributable to common shareholders fell to $137 million from $153 million. That amounts to earnings of 9 cents per share in the latest quarter, down from 11 cents a year earlier.
The company said its revenue rose 45 per cent to $1.06 billion.
Facebook said it had 901 million monthly active users as of March 31, up from 845 million as of the end of 2011.
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