According to Sources close to Facebook Finances, the social network generated about $250 million of net income in the fourth quarter of 2010, reports msnbc. Previous reports say Facebook profited $355 million over 2010's first 9 months. This puts Facebook's total 2010 profits at $600 million.
The sources underline that the company is on track to generate about $2 billion of EBITDA in 2011 (earnings before interest, taxes, depreciation and amortization). One of these sources says Facebook revenues will surpass $4 billion in 2011.
Facebook made most of its money off brand advertising, ads that send users to virtual games like CityVille and group-buying sites, and a 30 percent tax on Facebook credits.
According to Kara Swisher, of All Things Digital fame, Goldman Sachs, who bought $1.5 billion worth of new stock from Facebook in January at a $50 billion valuation, is asking Facebook if they can buy $1 billion worth of stock at $60 billion valuation. For teh sake of simplicity, if Goldman Sachs, happens to get its share in the 2010 profit then, courtesy to its $1.5 billion investment, it would be getting $18 million.
--------
Profit Facebook made in 2010?
Labels:
Facebook
No comments
Post a Comment