Facebook profit slips ahead of stock market debut

April 24, 2012 13:07

Facebook reported yesterday that its quarterly profit slipped to USD 205 million despite a surge in revenue as it bumped up research and promotion expenses ahead of its stock market debut. Facebook said its net income in the quarter ended March 31 dipped from the USD 233 million logged in the same period last year despite revenue vaulting to USD 1.06 billion.

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