Facebook revenue doubled in the first half of this year to $1.6 billion, a source close to the company said for Reuters, stressing the interest of advertisers for the biggest social network in the world in the context of increasingly tough competition with rivals such us Google.
The net income was nearly $500 million in the first semester, added the same source. The person cited did not provide figures for direct comparison with the results of the first half of last year.
Company’s solid results support the evaluations of Facebook investors in various private placements. The value of the company amounts to 80 billion dollars, judging by the money paid by investors for Facebook shares on the private market. Many experts expect that Facebook will be listed on the stock exchange next year, when the company will begin to provide detailed financial results.
Facebook popularity on online advertising market and the 750 million registered users have created pressures in the online services companies such as Yahoo, which fired on Tuesday Carol Bartz, its CEO.
Google, the world leader in online search and advertising market on the Internet, recently launched Google+, a social network that attracted over 10 million users in the first two weeks.
Google doesn’t offer advertising on Google+, but is trying to increase its popularity with games such as Zynga Poker or Angry Birds from Rovio.
Some investors and industry experts have noticed early signs that Google+ is on track to compete with Facebook.
Facebook had a net profit of 355 million and revenue of $1.2 billion in the first nine months of last year, according to documents provided by Goldman Sachs investment bank to its customers during a private placement of shares conducted this year.