Facebook Refiles S-1 Report

Apr 24, 2012

Facebook, the social media world's seemingly unstoppable powerhouse, had to file an amended S-1 report when it's net income fell by 12% -- or $205 million. Despite the earnings dips, Facebook reports that its user base continues to grow. According to NPR: "Facebook said it had 901 million monthly active users as of March 31, up from 845 million as of the end of 2011.The number of people using its mobile applications each month grew to 488 million as of the end of the quarter from 432 million as of the end of last year.

The revised filing also shed light on Facebook's Instagram purchase which it apparently paid $300 million in chash for, with the rest of the billion dollar deal being made up for with shares.