Facebook on Track for a $3 Billion Year
Facebook earned $355 million on revenue of $1.2 billion in the first nine months of 2010, according to a private placement memorandum distributed to potential investors back in January. This year it’s generating quite a bit more. Sources close to the company tell Reuters that the social networking company raked in $1.6 billion in revenue in the first half of 2011. Of that, $500 million is reportedly net income. Impressive results that can only help Facebook as it heads toward an expected IPO sometime in 2012.