A year after a nightmarish share offering, Facebook still has its ardent backers and detractors. The world's biggest social network, which now has more than 1.1 billion users, has managed to boost its earnings since the initial public offering, including from its mobile platform, important in countering its critics. The IPO on May 18 last year sparked a series of crises for Facebook, with the shares plunging from $38 to as low as $17.73 in September. Shares closed Thursday at $26.13.

Early estimates suggest that the Facebook phone has failed to catch on but that there's clearly life in the Facebook Home app. According to Global Equities Research analyst Trip Chowdhry, the HTC First, a smartphone whose main selling point is Facebook integration and which was launched to wild fanfare in April alongside the social media company's Facebook Home app, is struggling to attract consumers.

Facebook is in talks on a potential $1 billion deal to buy the Israel-based GPS mobile navigation app Waze, The Wall Street Journal reported. The report late Thursday, citing unnamed sources, said the discussions were "serious" but that no deal had been finalized. Waze, which claims more than 40 million users, could allow the world's biggest social network to expand its offerings in areas such as driving directions, or avoiding traffic jams or car accidents.

(Reuters) - Shares of Facebook <FB.O>, which were given a boost last week when the social networking company reported first quarter results that largely met analysts' expectations, may be over valued, financial newspaper Barron's said on Sunday. Facebook closed at $28.31 on Friday, 60 percent higher than last summer's low-point, but well below its initial public offering price of $38 last May. However, the company is probably worth no more than $25 a share, Barron's said, reiterating a stance it took in February.