Facebook Inc said its revenue declined sequentially in the first quarter, the weakest top-line performance by the world's largest social media network since at least 2010.
"It was bound to happen. You are going to see a slowdown," said Anupam Palit, an analyst at GreenCrest Capital LLC, noting that it is harder to double revenue when the base is larger.
But he also said Facebook has not worked out how to make more money in some international markets where it is growing the fastest, such as Brazil, India and the Philippines.
"They have not cracked international markets yet, while others like Google do very well internationally," Palit added.
Facebook, which is preparing for an initial public offering that could value it at up to $100 billion, said spending roughly doubled over the past 12 months, outpacing the 45 percent revenue increase during the period.
Net income slid 12 percent to $205 million in the quarter, from $233 million a year earlier at the company, which is aggressively expanding and adding employees.
Facebook said in an updated filing with the U.S
