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Facebook revenues 'hit $1.2 billion in nine months'

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Facebook pulled in $1.2 billion in revenue over the first nine months of 2010, according to a report citing documents distributed by Goldman Sachs, which is offering Facebook equity to some of its wealthiest clients.

Facebook's net income during the first nine months of 2010 reached $355 million, Reuters reports. Goldman values Facebook at $50 billion, and it's offering as much as $1.5 billion in Facebook equity.

An earlier report from The Wall Street Journal said that 2010 Facebook financials were not disclosed to at least one Goldman Sachs customer. This report pegged the social networking's outfits 2009 revenues at $777 million and net income at $200 million.

Facebook did not immediately respond to a request for comment.

The social network now boasts 500 million users worldwide, and according to Facebook boss Mark Zuckerberg, half of those 500 million log in every day. What's more, these people are voluntarily giving the service scads of info not only about themselves but about their friends, family, and acquaintances. It's potentially the ideal platform for targeted advertising. And that's why Google is so jealous. ®

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