Facebook results show social user volumes | Advantage social
June 21, 2010 Leave a Comment
Attacking Google – Pt. I
While the Facebook crowd has developed its own fangs, social business is here to stay with Facebook users celebrating Facebook’s mega results with great aplomb. Ahead of our own estimates at $500m and even more optimistic estimate at $650 million, Reuters reports Facebook as having completed the first round of its internet conquest with $800 million in revenue, tons in profit nd fallen faces and fuming engines at Google. The social web has declared war on the Google dominated ARPANET and life is new and rosy for users with minutage on Facebook increasing significantly every month without any dent in the pocket. We are still looking for turning points that bring out collaborative marketing as a commercial success having rejected subscription models and advertising based models. Zynga however estimates year 2 will not be as rosy enough for it. Shares of Facebook are trading at select online portals featured here earlier.
(Reuters) – Facebook’s financial performance is stronger than previously believed, as the Internet social network’s explosive growth in users and advertisers boosted 2009 revenue to as much as $800 million, according to two sources familiar with the situation.
The company also earned a solid net profit, in the tens of millions of dollars last year, one of the sources said.
That growth in profit and revenue underscores how Facebook is increasingly making money off its 6-year-old service, which ranks as the world’s largest Web social network with nearly half a billion users.
That sort of performance is 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.
HOLY KAW!
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