Friday, Jul 01, 2016
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Regular user base tops 900M, Facebook reports

SAN JOSE, Calif. -- Facebook’s monthly regular user base has grown by a third in a year, passing 900 million, and the social network has about half a billion users on smart phones or tablets, Facebook Inc. disclosed Monday in an addendum to its initial public offering filing with the Securities and Exchange Commission.

The company also said that although first-quarter revenues jumped $1.06 billion, or 45 percent, in the first quarter, compared to the same quarter last year, profit fell to $205 million from $233 million amid heavy spending on research and development.

Facebook’s IPO, expected to be priced at just under $31 a share, is widely expected in May.

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