NEW YORK â Facebook's first-quarter net income fell 12 percent, weighed down by higher expenses even as its revenue soared, the social networking company said 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 percent 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. The number of people using its mobile applications each month grew to 488 million as of the end of the quarter from 432 million as of the end of last year. http://www.clarionledger.com/articl...ebook-reports-lower-1Q-net-income?odyssey=tab
Where would this world be without advertising? How else do you become a billionaire by hosting a website where you can post pics of your frat party or say Hi! to your friends. Although google is an ad business at least what they do is hard and complex, organizing the interent so its usable. What facebook does is just plain retarted. No matter how important Zuck likes to make himself look..
Just makes me laugh. $200 million is enough for a private company to have a $5 billion valuation. Funny thing $1 billion would only be $25 billion or about what the first hedge fund forked over to buy it. Going to go up for a few months or immediately down. If there were still trading going on the private equities markets these would have traded to $35 per share and I believe it might IPO between $40-60 per share.