Report: Facebook made $355 million Net in 2010

January 7, 2011 -

A report that found its way to Reuters this week reveals some interesting financial numbers from privately owned Facebook. The document, which was meant for customers of investment firm Goldman Sachs, says that Facebook made $1.2 billion USD in the first nine months in 2010. The company also raked in $355 million in net income.

The source that leaked the document to Reuters told the new organization the "the financial statements were not audited and offered little detail about how Facebook generates it revenue".

"It just shows you that these business can generate 30 percent to 40 percent, potentially, operating margins," said Ryan Jacob of the Jacob Internet Fund, speaking to Reuters. "They probably did at least $500 million in net income in 2010."

The 101-page memorandum was meant for investors, who Goldman Sachs wants to raise an estimated $1.5 billion from for a future investment in Facebook. The company plans to dump an estimated $450 million of its own funds into Facebook. Goldman Sachs valued Facebook at $50 billion this week.

Source: Reuters by way of GI.biz


Comments

Re: Report: Facebook made $355 million Net in 2010

Yeah..

Everything I hear about this IPO leads me to think Goldman Saches is trying to scam investors.  The markets are bad enough right now that a lot of risk-adverse investors (i.e. the ones who got us into this mess) are scrambling for something that looks like a sure thing.. facebook is full of buzz so they figure that will be good to invest in.  Goldman Saches pumps them up, takes a huge commission, and then probably helps the current facebook owners take that IPO money and use it to invest in blue chip companies and cash out of facebook before it starts to slide.

It is the same basic pattern AOL and MySpace followed... right before they started to decline they had an overvalued IPO and instead of investing the money in their company they turned around and used it to build solid investments in older companies.. so to me this is a sign that the facebook executives believe they have peaked and need to look elsewhere for growth.

Re: Report: Facebook made $355 million Net in 2010

"...says that Facebook made $1.2 billion USD in the first nine months in 2001."

was facebook even around in 2001?

Re: Report: Facebook made $355 million Net in 2010

Nope, they went live in 2004.

The original Reuters piece said

"Facebook earned $355 million in net income in the first nine months of 2010, according to documents distributed by Goldman Sachs, a fraction of the online social network's $50 billion valuation."

 

 
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ZippyDSMleeuuuhhhggg in other news been sick since last night.....uuhggg.....I iwsh it did not hurt so much when my tummy wants to leave my body..02/28/2015 - 11:39pm
ZippyDSMleeBrings me to the Q why alt costumes would be needed in competition anyway... http://www.eventhubs.com/news/2015/feb/28/dead-or-alive-community-aims-ban-over-120-overly-sexualized-costumes-dead-or-alive-5-last-round/02/28/2015 - 11:36pm
MonteThough from a business side, i would agree with the article. While it would be smarter for developers to slow down, you can't expect EA, Activision or ubisoft to do something like that. Nintnedo's gotta get the third party back.02/28/2015 - 4:36pm
MonteThough it does also help that nintendo's more colorful style is a lot less reliant on graphics than more realistic games. Wind Waker is over 10 years old and still looks good for its age.02/28/2015 - 4:33pm
MonteWith the Wii, nintnedo had the right idea. Hold back on shiny graphics and focus on the gameplay experience. Unfortunatly everyone else keeps pushing for newer graphics and it matters less and less each generation. I can barely notice the difference02/28/2015 - 4:29pm
MonteON third party developers; i kinda think they should slow down to nintendo's pace. They bemoan the rising costs of AAA gaming, but then constantly push for the best graphics which is makes up a lot of those costs. Be easier to afford if they held back02/28/2015 - 4:27pm
Matthew Wilsonhttp://www.forbes.com/sites/insertcoin/2015/02/28/the-world-is-nintendos-if-only-theyd-take-it/ I think this is a interesting op-ed, but yeah it kind of is stating the obvious.02/28/2015 - 2:52pm
prh99The government probably doesn't need an app, but I was think more along the lines of a company that was going to sell the collected info. “If you're not paying for the product, you are the product” sometimes even if you pay.02/28/2015 - 1:50pm
E. Zachary KnightWhat better way for the government to keep track of you than to get you to install an app that lets you insult the government.02/28/2015 - 11:03am
prh99No, but I looked it up and it's basically spyware. Their privacy policy says their apps tracks among other things your location and browsing habits via cookies.02/28/2015 - 8:20am
Ryan RardinHas anyone here heard of an app called iCitizen? It's basically Yelp for politicians.02/28/2015 - 5:16am
Andrew EisenAh, not linked in the way you (and everyone else) want and expect. That's true.02/27/2015 - 10:06pm
Matthew Wilsonthey are not linked in a way that tracks purchases though. the fact that they have to send a code for the other system shows that they are not linked in the way it counts.02/27/2015 - 9:39pm
Andrew EisenAccounts are already linked. Have been for quite a while. Also, Mario vs. Donkey Kong was announced as a cross-buy title during last January's Nintendo Direct.02/27/2015 - 9:25pm
Matthew Wilsonhttp://www.vg247.com/20…/…/27/olli-olli-3ds-wii-u-cross-buy/ I wounder if this is a sign that Nintendo may finally link accounts across the 3ds/wiiu in the near future.02/27/2015 - 9:18pm
prh99http://www.romanoriginals.co.uk/invt/70931?colour=Blue The dress does comes in white and blue but both have black lace and a sheer back top, I don't see gold or brown. 02/27/2015 - 8:54pm
ZippyDSMleeDungeons was a so bad so good game to me so I been keeping up with its sequel which will more of a Dungeon Keeper clone. As for pre order out of 7 preorders I was not burnt by 2... Add my contempt of most of modern game design.Ya I have all kinds of hurt.02/27/2015 - 8:40pm
MechaTama31I don't even want to know...02/27/2015 - 8:22pm
ZippyDSMleeFun? I can do fun…. I think LOL. Dungeons 2 is on preorder but not via steam... >> Hell I am breaking all kinds of personal butthurt rules to even THINK about pre order...02/27/2015 - 8:12pm
E. Zachary KnightHad some fun discussions about that dumb dress on Facebook. I opened the original picture in GIMP and sampled the colors and determined them to be Blue and Gold. People still say I am wrong.02/27/2015 - 7:41pm
 

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