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Facebook's earnings and revenues fell in the first quarter of 2012, the company said in a regulatory filing ahead of what is expected to be a $100bn stock market sale.
The company has been spending heavily in the initial public offering (IPO). It said seasonal factors were also to blame for the slip, as advertisers spent less in the first quarter compared with the last three months of last year.
Facebook's revenue in the first three months of the year rose 45% year-on-year to $1.06bn, compared with the first quarter of 2011. But profit during the quarter dropped 12% to $205m from $233m a year earlier as costs soared.