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Report: Facebook '09 Revenue Neared $800M

  • Reuters, Friday, June 18, 2010 12:16 PM
Describing Facebook's financial performance as "stronger than previously believed," Reuters is reporting that the social net's '09 revenue neared $800 million. That's according to unnamed sources, one of whom also tells Reuters that Facebook earned a solid net profit, "in the tens of millions of dollars last year." The news service suggests that the impressive numbers are "likely to whet the appetites of investors keen for a public share float, despite the company's insistence that an IPO is not a near-term priority."

To date, privately held Facebook has released very limited financial information. Last July, Facebook board member Marc Andreessen told Reuters the company was on track to surpass $500 million in annual revenue for 2009. "They are downplaying their performance," one source tells Reuters. "There's no upside in getting people's expectations high, it's always better to go low."

Read the whole story at Reuters »

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