Facebook Could Rack Up $1B in Profit This Year

Gigaom - As Goldman Sachs lines up private investors for its Facebook fund, which appears to have already closed due to high demand, numbers are beginning to leak out about the social network’s financial picture, including — for the first time — credible reports of how much the company is making in profits. Based on the growth in revenue and in the bottom line, Facebook could stand to pull in close to $1 billion in profit this year. While that may not justify the $50 billion market value that Goldman’s investment ascribes to the network, it is another sign of just how huge the company has become, and how much further it could grow as it gobbles up an even larger share of online advertising.

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