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."

 

 
Forgot your password?
Username :
Password :

Poll

How do you feel about Amazon buying Twitch?:

Shout box

You're not permitted to post shouts.
MaskedPixelanteSee the flaw here. Blue Falcon car, F-Zero themed track, and Link as a playable character.08/27/2014 - 6:46am
IanCNext Level Games would like to say hi.08/27/2014 - 6:32am
Uncharted NEShttp://kotaku.com/zelda-f-zero-coming-to-mario-kart-8-162715073008/26/2014 - 11:17pm
Uncharted NESAlso $8 for each or $12 for both.08/26/2014 - 11:16pm
Uncharted NESZelda, Animal Crossing Coming To Mario Kart 8.08/26/2014 - 11:15pm
Andrew EisenNintendo has worked with plenty of western or non-Japan devs. It partners more often with devs in its own country but I wouldn't say it doesn't like western devs.08/26/2014 - 7:36pm
Matthew WilsonOr... give it to the studio that just formed from the old Darksiders guys. yeah I know outside of Retro they do not like working with western devs.08/26/2014 - 6:46pm
MechaTama31They should have just handed the Zelda reins to the team responsible for Okami, because they out-Zelda-ed Zelda.08/26/2014 - 6:08pm
Uncharted NESI miss Nintendo-Capcom Zelda games. ALTTP on the GBA was my first real time really playing through that game. And you know what, it was fun. :P08/26/2014 - 5:42pm
IanC3 and a half amazing games, since Capcom did the A Link to the Past port, and the Four Swords game that was on the cart. So thats 4 games then, id guess.08/26/2014 - 5:03pm
MaskedPixelanteDepends on who's teaming up with what. Zelda plus Capcom gave us three amazing games. Zelda plus Phillips gave us Youtube Poop.08/26/2014 - 3:25pm
E. Zachary KnightNintendo has had a fairly decent track record with teaming up with external development houses to make games based on their IP, at least recently. I hope they keep it up.08/26/2014 - 3:14pm
IanCThe idea of the Tekken team making a Pokémon fighting game is A: funny and B: clever.08/26/2014 - 2:39pm
IanCBlizzard took the Act 4 ending cut scene out of Diablo 3 Ultimate Evil Edition. So if you want to see the final cut scene from the base game better go look on youtube or something.08/26/2014 - 2:38pm
Andrew EisenI hope Magikarp is playable!08/26/2014 - 11:14am
MaskedPixelantehttp://www.joystiq.com/2014/08/26/psa-psn-gets-knocked-down-again/ Hey, guess what happened again.08/26/2014 - 9:51am
MaskedPixelantehttp://www.joystiq.com/2014/08/26/tekken-style-pokemon-fighter-unveiled-for-arcades-in-2015/ Continuing Nintendo's plan of letting other devs take a stab at their IPs, NB is doing a Pokemon fighting game based on Tekken.08/26/2014 - 9:41am
MaskedPixelantehttps://www.youtube.com/watch?v=PsB1e-1BB4Y John Oliver talks about the wage gap between women and men.08/26/2014 - 7:07am
Papa MidnightNew York Times: http://www.nytimes.com/2014/08/26/technology/amazon-nears-a-deal-for-twitch.html?_r=008/25/2014 - 5:23pm
Papa MidnightThe Verge: http://www.theverge.com/2014/8/25/6066295/amazon-reportedly-buying-twitch-for-over-1-billion08/25/2014 - 5:23pm
 

Be Heard - Contact Your Politician