Facebook says they brought in $1.18 billion, up from the $895 million reported this time last year. But there was a net loss of $157 million, or 8 cents a share.
Facebook officially launched its mobile App Center, this week.
Facebook co-founder Eduardo Saverin renounced his US citizenship and now lives in Singapore. Interesting timing, says US Sen. Bob Casey.
Facebook is raising the price of its IPO, a sign of high demand for the stock. But a recent poll finds half of Americans think Facebook is just a fad.