Based on some unconfirmed numbers, Michael Arrington expects Facebook to be more profitable than Amazon this year. “On a quarterly basis they’re already there,” Arrington writes on his still new Uncrunched blog. Amazon had $191 million operating income in the second quarter, and $322 million in the first quarter. “That’s $513 million vs. Facebook’s $800 million for the first half of the year,” according to Arrington. Amazon’s third quarter financials are coming out this week, and Citi analyst Mark Mahaney expects to see $298 million in operating income from Amazon for the quarter.
Citing a source, Arrington reports that Facebook had $1.6 billion in revenue – and about $800 million in operating income -- in the first six month of 2011. “Does that mean Facebook is still undervalued at $70ish billion, despite the fact that recent secondary market sales are stalling?” he asks. “Based on a comparison to Amazon today, and taking into account that the big growth years for Facebook are just getting started, that answer is yes.”