Facebook sales likely to hit $2 billion in 2010: report

Friday, 17 December 2010 02:05 - - {{hitsCtrl.values.hits}}

NEW YORK (Reuters) - Facebook Inc is likely to generate 2010 revenue of about $2 billion, more than previously expected for the popular social networking site, Bloomberg reported, citing three people familiar with the matter.

Facebook’s 6-year-old service, which ranks the world’s largest Web social network with roughly half a billion users, posted 2009 revenue of around $800 million, Reuters reported earlier this year.

Facebook is privately held and does not publicly disclose revenue figures. Bloomberg’s story on Thursday said that 2010 revenue was previously expected to be closer to $1.5 billion, which still would have been nearly double 2009 sales.

It now appears Facebook will reach $2 billion in sales faster than Yahoo Inc and at almost the same pace as Google Inc, the Bloomberg report said.