Report: Facebook IPO set for May 18

May 02, 2012

(AP) -- Facebook will go public on May 18, a published report says, in one of the most highly anticipated tech initial public offerings since Google went public in August 2004.

The Wall Street Journal reported Tuesday that the company is set to start its roadshow on Monday, according to people familiar with the matter. The roadshow, a series of meetings with prospective institutional investors, is designed to stir interest in the company's stock.

Mark Zuckerberg, the founder and chief executive of Facebook, will attend some of the meetings, The Journal reported.

The Menlo Park, Calif.-based company is seeking to raise about $5 billion in the offering, giving the entire company a value of about $100 billion.

Officials for Facebook declined to comment.

Facebook last month announced it is buying Instagram, the company behind a popular mobile photo-sharing application with the same name, for $1 billion, its largest acquisition ever.

During the first quarter, Facebook's net income fell 12 percent, weighed down by higher expenses even as its revenue soared. Net income fell to $205 million in the three months that ended March 31, from $233 million a year earlier, while net income attributable to common shareholders fell to $137 million from $153 million. That amounts to earnings of 9 cents per share in the latest quarter, down from 11 cents a year earlier. Revenue rose 45 percent to $1.06 billion.

The company had 901 million monthly active users as of March 31, up from 845 million as of the end of 2011.

is listing its stock on the under the ticker symbol "FB."

Explore further: SK Hynix posts near 30% drop in Q2 net profit

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Facebook reports lower 1Q net income

Apr 23, 2012

(AP) -- Facebook's first-quarter net income fell 12 percent, weighed down by higher expenses even as its revenue soared, the social networking company said Monday, just a few weeks ahead of its expected initial public offering ...

Zynga posts 4Q net loss on IPO-related stock costs

Feb 14, 2012

(AP) -- Online game maker Zynga Inc. reported a net loss in the last three months of 2011, weighed by hefty stock-compensation expenses and other costs in its first quarter as a public company.

CenturyLink 3Q net income falls as expenses rise

Nov 02, 2011

(AP) -- Phone company CenturyLink Inc. says its third-quarter net income fell as rising operating expenses related to its April acquisition of larger phone company Qwest overshadowed increased revenue.

Recommended for you

Swiss drug maker Roche posts 7 percent profit drop

1 hour ago

(AP)—Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

Cheaper wireless plans cut into AT&T 2Q profit

12 hours ago

(AP)—AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

Facebook 2Q earnings, revenue soar (Update)

12 hours ago

(AP)—Facebook is on a roll. The world's largest online social network posted sharply higher earnings on Wednesday as revenue from mobile advertising continued to grow, and more people used it, more often.

Android grabs more tablet market share

14 hours ago

Global sales of tablet computers edged higher in the second quarter, in the slowest growth since 2009, research firm Strategy Analytics said Wednesday.

Microsoft CEO sees 'bold' plan as 4Q tops Street

Jul 23, 2014

(AP)—Microsoft Corp. CEO Satya Nadella painted an upbeat vision of the future Tuesday, saying that the next version of Windows will be unified across screens of all sizes and that two money-losing units—Nokia ...

User comments : 0