Facebook reports $1.585B in revenue for Q4 2012, net income of $64M

Facebook today reported $1.59 billion in revenue for the fourth quarter of 2012 ended Dec. 31 — a 40 percent increase from the $1.13 billion reported in Q4 2011. Net income was $64 million down year-over-year from $302 million, but up from the net loss of $59 million in Q3 2012. Generally Accepted Accounting Principles (GAAP) earnings per share (EPS) for the fourth quarter was $0.03, compared to $0.14 for the same quarter in the prior year.