SAN FRANCISCO (Reuters) - Facebook Inc said its revenue declined sequentially in the first quarter, the weakest performance by the world's largest social media network since at least 2010. Facebook, which is preparing for an initial public offering that could value it at up to $100 billion, said spending roughly doubled over the past 12 months, outpacing the 45 percent revenue increase during the period. Net income slid 12 percent to $205 million in the quarter, from $233 million a year earlier at the company, which is aggressively expanding and adding employees. ...
Facebook reveals revenue, profit slide ahead of IPO
Mon, 23 Apr 2012 20:21:35 GMT
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