Facebook doubles up on revenue

7230a7d041d71f2fe07c9ed979b63483

Facebook’s revenue doubled to $1.6 billion in 2011’s first half, a source with knowledge of its financials told Reuters, underscoring its appeal to advertisers while it grapples with intensifying competition.

Net income in the first half of 2011 came to almost $500 million, according to the source, who wished to remain anonymous.

Facebook’s stronger results come as investors have pushed its valuation to roughly $80 billion in private markets, with many industry observers expecting the world’s No. 1 Internet social network to go public in 2012.

Facebook earned $355 million in net income in the first nine months of 2010 on revenue of $1.2 billion, according to documents that Goldman Sachs provided to clients during a share offering this year.



News
Entertainment
Sports
Lifestyle
Local

Grimm choice: Tax fraud trial could dog NY…

Rep. Michael Grimm may be splitting his time between the campaign trail and a courtroom where he is due to face tax evasion charges.

Local

Met Opera, unions extend talks for 72 hours,…

Met Opera agreed to extend negotiations with its labor unions for 72 hours, preventing a threatened lockout, the organization said late Thursday.

Local

MAP: New York City street closures August 2…

Summer Streets, the NYC Triathlon, the Ecuadorian Parade and festivals will cause traffic delays and street closures in New York City this weekend.

Local

Winning $7 million New York lottery ticket sold…

The only $7 million winning New York Lottery ticket for Monday's Cash4Life drawing was sold at a Queens 7-Eleven, officials said on Tuesday.

Movies

Interview: Brendan Gleeson on 'Calvary' and his very…

Brendan Gleeson discusses how "Calvary" began over drinks and how his priest character is the opposite of the officer he played in "The Guard."

Movies

Interview: Chris O'Dowd does funny and serious in…

Chris O'Dowd talks about "Calvary," an Irish comedy-drama about a priest (Brendan Gleeson) under fire.

Movies

'Alive Inside' and 'Code Black' are documentaries with…

Two new documentaries — "Alive Inside" and "Code Black" — portray different issues but suffer from the same problem.

Music

Caught a Ghost catches a soul/rap vibe

Jesse Nolan says Caught a Ghost's sound aims for two things everybody likes: soul music and '90s rap.

MLB

Yankees land Stephen Drew, Martin Prado at trade…

Yankees land Stephen Drew, Martin Prado at trade deadline

College

Playing the Field: Valentine's Day coupling edition

  It’s Valentine’s Day, a day created by Hallmark to make couples spend loads and loads of money on candy, flowers and gourmet dinners. Or…

MLB

Angelo Cataldi: Ryan Howard deserves better from Phillies

Just last week, Ryan Howard endured the embarrassment of a benching that was inevitable, and yet still shocking.

NFL

Larry Donnell has inside track in Giants tight…

Little-known Larry Donnell of Grambling State currently has the inside track, as the second-year player has received the bulk of the first-team reps.

Career

What do you wear to a career fair?…

Getting that gig starts with presenting the most polished and memorable version of yourself, so refer to our expert fashion advice.

Style

Editors pick: Margiela's finger armor ring

These cool rings from Maison Martin Margiela are designed to overlap over the finger, covering each joint like armor.

Style

Givenchy champions diversity

Riccardo Tisci's uses a variety of ethnically diverse ladies for his spring campaign including Erykah Badu.

Wellbeing

Don't settle for the hotel fitness center with…

Travelers who want to skip the hotel fitness center in favor of local gyms that may offer better equipment, classes and amenities can turn to…