Facebook’s Profit fell 12%
Its net income fell from $233 million to $205 million, according to sources.
“It was a faster slowdown than we would have guessed,” said Brian Wieser, an analyst with Pivotal Research Group.
“No matter how you slice it, for a company that is perceived as growing so rapidly, to slow so much on whatever basis – sequentially or annually – it will be somewhat concerning to investors if faced with a lofty valuation.”
Facebook’s user growth helped contribute to $1.06 billion in revenue for the first quarter, 45 percent higher than same time last year.
Previously, the Facebook reported 901 million monthly active users, 300 million photos uploaded per day and 125 billion friendships. According to filling, 488 million people access Facebook from mobile devices.
The social network’s user base continues to grow, surpassing 900 million monthly active users in 2012.Tags: Finance