Facebook filing: New info on revenues, Instagram and AOL patents

Facebook updates its IPO filing to include information about the purchase of Instagram, the AOL patents via Microsoft, and a number of updates about, well, its numbers:

  • “We had 901 million MAUs as of March 31, 2012, an increase of 33% as compared  million MAUs as of March 31, 2011.” That’s up from 845 million last month. Is Facebook on track to crack 1 billion users this year?
  • That annual growth rate slowed to 33 percent from 39 percent last month.
  • I can’t recall if Facebook had publicly confirmed this, but the filing now officially states the company will trade on Nasdaq.
  • Revenue for the first quarter was $1.058 billion, up from $731 million for the same quarter a year ago. Well on track to top $4 billion for the year. Can they top $5 billion?
  • Profits actually dropped from the quarter a year ago, from $233 million to $205 million.
  • The company continued to decrease its reliance on advertising for revenue, falling to 82 percent this quarter from 87 percent for the same quarter last year.
  • Facebook headcount grew from 2,431 as of March 31, 2011, to 3,539 as of March 31, 2012.
  • Facebook added $441 million in cash in the first quarter, more than enough to cover the $300 million in cash it will have to pay as part of the Instagram deal. The rest of the $1 billion deal is in Facebook stock.
  • Added language to note that its trying to make some money off mobile: “We have historically not shown ads to users accessing facebook through mobile apps or our mobile website. To the extent that increasing usage of Facebook through mobile apps or our mobile website substitutes for the use of Facebook through personal computers where we do show ads, the number of ads that we deliver to users and our revenue may be negatively affected unless and until we are successful with monetization strategies for mobile usage of Facebook, such as the implementation of sponsored stories in users’ mobile News Feeds, which we  inMarch 2012. “

One big surprise to me: Facebook notes that the Instagram acquisition is subject to regulatory anti-trust approval. Usually, this is just pro forma. But still, I wonder, is there any chance the federal government would attempt to make a squawk that Facebook might have too much power in the realm of photo sharing? Or social networking (however one would define that)?

It must be pretty confident it will close the deal, since it agreed to pay Instagram $200 million in cash if it doesn’t.


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