Facebook Revenues 2011: First Half of Year Sees Double

Facebook remains a hot topic here at OSM and just recently we’ve told how the company has now had one trillion pageviews and no, that’s not a misprint. Although the company recently announced an end for the Facebook Deals marketing tool it doesn’t appear to be a reflection of the popular social networking site’s success as we have news that the first half of the year has seen Facebook’s revenues double.

A new report tells how revenues doubled for that period to $1.6 billion and Facebook’s net income for that time soared to $500 million, according to Todd Wasserman over on Mashable. The information comes from a source to Reuters, who is said to have knowledge of Facebook’s finances. These figures are not publicly disclosed as Facebook is still a private company and therefore doesn’t publicly report its finances.

In estimations of Facebook’s revenues for 2010 eMarketer put the figure at around $1.86 billion and the figure for global revenues for 2011 has been predicted at $4.05 billion. An eMarketer spokesperson said that the Reuters reported figures are “on track with our estimates” and also pointed out that more money is usually brought in during the third and fourth quarters of the year.

We have previously reported on Facebook’s upcoming IPO, due in 2012, and valuation of the company has recently been put at a staggering $100 billion. Even with the escalating competition from Google, Facebook appears to be increasing its appeal to advertisers and its users. However the recent valuation of Facebook was prior to uncertain stock market conditions, which have led to Groupon delaying its IPO and we have recently reported that Zynga has also delayed its planned IPO.

Facebook reps have declined to comment on this revenue news. We’d be interested to hear your thoughts on Facebook revenues doubling in 2011’s first half so do let us have your comments.