Facebook’s Revenue Doubles to $1.6 Billion [Report]

POSTED BY , UPDATED ON April 26th, 2013

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According to a reportFacebook’s revenue doubled in the first half of the year to a whooping $1.6 billion. The net income of Facebook for the period hit $500 million, citinga source with knowledge of [Facebook’s] financials“. 

As Facebook is a private company therefore it does not publicly report its financials (permitted by law), but eMarketer estimated that the company posted $1.86 billion in revenues for 2010.

EMarketer further predicts that Facebook will strike $4.05 billion in global revenues for 2011. An eMarketer re-presenter says the figure reported is “on track with our estimates” especially since the 3rd and 4th quarters gravitate to bring in more money than the 1st and 2nd quarters.

Facebook was previously reported to have an estimated valuation of $100 billion (as Facebook is bound by the law to go public in 2012).