May 1, 2013 |
Facebook reported first-quarter financial results Wednesday afternoon that exceeded expectations, including revenue that was up 38% and profit that rose 7% year-over-year. The Menlo Park, Calif., company said profit totaled $219 million, or 9 cents a share, compared with $205 million, or 9 cents, in the year-earlier quarter. Excluding one-time items, the social network earned 12 cents a share. Revenue totaled $1.46 billion, compared with $1.06 billion a year earlier. Revenue from advertising was $1.25 billion, which represented 85% of total revenue and a 43% increase over the same quarter last year.
June 23, 1989
Joe Sargis, an award-winning sports editor and writer for 38 years with United Press International, died in Menlo Park, Calif., ending a two-year battle with cancer. He was 62.