Report: Facebook made $355 million Net in 2010

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

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