25 Apr '12, 9am

Facebook reveals revenue, profit slide ahead of IPO - Today's Technology News - San Francisco Luxury News

SAN FRANCISCO: Facebook Inc reported its first quarter-to-quarter revenue slide in at least two years, a sign that the social network’s sizzling growth may be cooling as it prepares to go public in the biggest ever Internet IPO. The company blamed the first-quarter decline, which surprised some on Wall Street, on seasonal advertising trends. “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,” Wieser said. Facebook is preparing to raise at least $ 5 billion in an initial public offering that could value the world’s largest social network at up to $ 100 billion. “The biggest issue is the reali...

Full article: http://sfluxe.com/2012/04/25/facebook-reveals-revenue-pro...

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