Facebook’s first-quarter revenue climbed 45 per cent to just over $1 billion as daily active users leapt 41 per cent, 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 US 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 31st, 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.
The company also announced yesterday that it is to pay Microsoft $550 million in cash for hundreds of patents recently sold by AOL, the company’s latest move to bulk up its intellectual property in the wake of a lawsuit filed by Yahoo.
The deal will give Facebook 650 patents and patent applications, as well as a licence to another 275 patents and applications owned by Microsoft. – (Reuters)
