Boston, MA 05/20/2013 (wallstreetpr) – It had been one year since the world’s largest social networking site, Facebook Inc. (NASDAQ:FB) had entered into the trading system through an initial public offer. The shares of the company had been trading in the range of $17.55 to $45 per share during this 52 week period and the shares had jumped by 0.46 percent to reach $26.25 for the previous close.
First Quarter Results
The Menlo, California based social networking site provider, Facebook Inc. (NASDAQ:FB) had managed to register $1.46 billion as revenue for the first quarter of this year, compared to $1.06 billion for the same quarter of previous year. Facebook Inc. (NASDAQ:FB) had started to run advertisements on its website in the right hand side corner and with increase in mobile computing, the company had extended this ad services to mobile phones and News Feed as well.
Further, Facebook Inc. (NASDAQ:FB) had also made arrangements for the display of special widgets for promotion of third party application installations. The social networking site provider had made many attempts to enhance user engagement at its site with the belief that this would boost up its revenue in the balance sheet. Facebook Inc. (NASDAQ:FB) had provided for connecting to advertising clients to the extent of organizing boot camps for employees and trips to meet big wigs like Procter & Gamble.
However, Facebook Inc. (NASDAQ:FB) had not been able to completely satisfy and delight its shareholders, who still cling on to the site and spend a lot for its development.
