Facebook reports earnings.
FORTUNE — Facebook today filed updated financial information with the SEC, as a prelude to next month’s initial public offering.
The headline number is that revenue fell between Q4 2011 and Q1 2012, from $1.13 billion to $1.06 billion. This mirrors a similar drop during the year-earlier period, likely because of holiday ad spend that disappears in the new year. Here is Facebook’s explanation:
Overall, Facebook reports $205 million in net income for the quarter and that it still had $3.9 billion of cash on hand at the end of March.
Facebook also broke out details of its pending Instagram acquisition, disclosing that it paid $300 million in cash and approximately 23 million in common shares. Based on the previously-reported $1 billion purchase price, that would mean Facebook is expecting its stock to price at just over $30 each. The deal also includes a $200 million termination fee.
For what it’s worth, that $30 per share price would value Facebook at approximately $75 billion.
[UPDATE: A source familiar with the situation tells me that the actual price per share was $30.89 per share. In other words, they know what “approximately 23 million” shares actually meant. That brings the valuation a touch under $77 billion]
Finally, Facebook reported continued increases in daily and monthly active users: