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Facebook Reports Rising Revenue, Costs

Facebook's revenue number for the last three months of 2011 has been added to this story.

MENLO PARK, Calif. ( TheStreet) -- Facebook is growing revenue at a healthy pace ahead of its planned initial public offering but expenses are on the rise as well.

The social networking giant provided additional information on its financial performance in a regulatory filing with the Securities and Exchange Commission, saying it generated revenue of $1.06 billion for the first three months of 2012.

The revenue figure was up 45% compared to the prior year's quarter, according to the amended S-1 filing. Facebook's cost of revenue, however, increased $110 million, or 66%, over the same period, which the company largely attributed to data center expansion and a 66% increase in headcount.

Facebook has given additional information on its financial performance.

The social networker's revenue also slipped 6% sequentially from $1.13 billion in the last three months of 2011.

Facebook, which is gearing up for its eagerly-anticipated $5 billion IPO, also confirmed that it has more than 901 million monthly active users, up from 680 million in the year-ago quarter. The company had 526 million daily active users, compared to 372 million in the same period last year.

During the first quarter of 2012, Facebook's average revenue per user, or ARPU, was $1.21, an increase of 6% from the first quarter of 2011.

Facebook plans to list on the Nasdaq exchange under the symbol 'FB', according to the S-1, ending recent speculation about the social networker's likely home.

The Menlo Park, Calif.-based firm is expected to go public in mid-May in the largest-ever tech offering.

Microsoft (MSFT - Get Report) and Facebook announced on Monday that they are teaming up over patents that the software giant recently bought from AOL (AOL - Get Report).

-- Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com.

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