Feeds

Revenues double at Facebook, says source

That's $1.6bn in the first half of the year... bitch

Build a business case: developing custom apps

Facebook's first half revenue has nearly doubled to $1.6bn, despite the advent of new rivals like Google+.

Net income for the half was almost $500m, a source told Reuters, adding that they did not want to be named because privately-held Facebook doesn't have to tell anyone what it makes.

The results can only help any potential IPO Facebook might be plotting, something the pundits expect sometime next year. Latest valuations put the social network at $79.2bn, a princely sum, but around $5bn less than it would have made if it had gone public at the beginning of July.

Some attribute the fall in Facebook's share prices to either "Facebook fatigue", a nice little moniker meant to convey that everyone's sick of the network already, or because everyone would much rather be tweeting or chilling in a Google+ Hangout.

But the results would suggest that Facebook's advertisers are keeping the faith and helping the company turn eyeballs into money.

There's also been other evidence to back up the idea that Facebook ain't quite dead yet, with bean-counter comScore reporting its highest ever unique visitor numbers in July at 162 million.

At the time of publishing, Facebook had not responded to requests for comment. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.