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Facebook released an amended S-1 yesterday with its first quarter financials. Revenue was $1.06 billion, up from $731 million a year prior, but down sequentially. Net income slipped to $205 million from $233 the previous year, the result of increased costs associated with expansion and investment.
Most worrisome, however, is Facebook’s decelerating year-over-year revenues. Revenues grew 45 per cent from a year prior; year-over-year revenue growth was 112 per cent in the first quarter of 2011. However, it is also important to note that these results do not include its new “Premium” ad products introduced in the middle of last quarter.
Photo: Facebook S-1
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