Facebook Reports Q1 Figures, Buys AOL Patents
Company closer to reaching 1 billion users
Facebook’s first-quarter revenue jumped 45 percent year over year to $1.06 billion, but the company’s net income fell 12 percent to $205 million, according to an updated regulatory filing made with the Securities and Exchange Commission on Monday.
Facebook’s annual operating expenses have roughly doubled over each of the last two years, but its spend on sales and marketing as well as research and development saw the greatest growth in the past year. First-quarter sales and marketing spending increased by 134 percent year over year to $159 million, and research and development spending rose by 168 percent to $153 million.
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