Thanks to Goldman Sachs' $450 million investment in Facebook, the social network continues to reveal additional financial details. During the first nine months of 2010, Facebook earned $355 million in
net income, according to
Reuters citing documents distributed by Goldman. According to the document, Facebook generated $1.2 billion
in revenue in the first nine months of 2010. “That valuation is high, but not outrageous based on the glimpse into the company's financial performance and the growth that it implies,”
writes Reuters based on analysis from said Ryan Jacob, of the Jacob Internet Fund. "It just shows you that these business can generate 30 percent to 40 percent, potentially, operating margins," he
said. "They probably did at least $500 million in net income in 2010," Jacob said. According to Reuters, Goldman was hand-delivering copies of the 101-page private placement memorandum for a $1.5
billion Facebook offering to customers this week.