Facebook’s revenue from payments has consistently grown more than 20 per cent quarter-over-quarter.But between the fourth quarter of 2011 and the first quarter this year, revenue from payments and other fees actually fell slightly, according to its latest filing with the Securities and Exchange commission.
It brought in $188 million in payments (and other fees) revenue in Q4 2011, and $186 million in Q1 2012.
Normally quarter-over-quarter growth is less relevant as a data point, but this is the first quarter Facebook’s payments revenue has actually failed to grow by at least 20 per cent quarter-over-quarter.
Payments represent a critical source of revenue for Facebook, which will need to diversify beyond just advertising if it wants to continue growing.
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