NPR logo

Facebook's Profits Slide Ahead Of IPO

  • Download
  • <iframe src="https://www.npr.org/player/embed/151261411/151261410" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Facebook's Profits Slide Ahead Of IPO

Business

Facebook's Profits Slide Ahead Of IPO

Facebook's Profits Slide Ahead Of IPO

  • Download
  • <iframe src="https://www.npr.org/player/embed/151261411/151261410" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Weeks ahead of its initial public offering, Facebook released its first quarter profits Monday, and they are down 12 percent from a year ago. At the same time, company expenses have nearly doubled. Facebook attributes some of that to market expansion, which requires more employees and infrastructure.

STEVE INSKEEP, HOST:

NPR's business news starts with some profits de-friending Facebook.

(SOUNDBITE OF MUSIC)

INSKEEP: Weeks ahead of an initial public stock offering, Facebook yesterday released its first quarter profits, and they are down - 12 percent from a year ago. At the same time, company expenses have almost doubled. Facebook attributes some of that to market expansion, which requires more employees and infrastructure.

Facebook also announced yesterday the purchase of over 600 patents from Microsoft for $550 million.

Copyright © 2012 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

We no longer support commenting on NPR.org stories, but you can find us every day on Facebook, Twitter, email, and many other platforms. Learn more or contact us.