The West

Facebook is reporting, ahead of its initial public offering, expected in May, that its first-quarter net income fell as its revenue rose by comparison with a year earlier.

Facebook Inc said in a regulatory filing on Monday that its net income fell 12 per cent to $US233 million ($A225.31 million) from $US205 million ($A198.23 million) in the three months that ended March 31.

Net income attributable to common shareholders fell to $US137 million ($A132.48 million) from $US153 million ($A147.95 million). That amounts to earnings of nine cents per share in the latest quarter, down from 11 cents a year earlier.

The company said that higher expenses pushed down its earnings as its revenue rose 45 per cent to $US1.06 billion ($A1.02 billion).

Facebook says it had 901 million monthly active users as of March 31, up from 680 million a year earlier.

The West Australian

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