Report: Facebook made $500 million in 1H 2011

Report: Facebook made $500 million in 1H 2011
According to Goldman Sachs documents, Facebook made $500 million in the first half of 2011.

Additionally, revenue doubled to $1.6 billion.

The results are much stronger than expected, as investors were hoping for $2 billion in revenue for the entire year.

Based on secondary market valuation and investor valuations, the behemoth social networking site is worth $80 billion. The company is expected to go public in 2012.

In 2010, the company had revenue of around $1.5 billion, and net income of $400 million.

Facebook has over 750 million users around the globe.

Written by: Andre Yoskowitz @ 8 Sep 2011 1:39
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