Facebook Revenue Doubles To $1.6bn [Headlines]
The social networking site's first-half revenue reportedly doubled, highlighting Facebook's appeal to advertisers.
Net income in the first half of 2011 came to almost $500m, according to a source, who wished to remain anonymous because privately-held Facebook does not disclose its results.
Facebook’s strengthening results come as investors have pushed the company’s valuation to roughly $80bn in secondary markets, with many industry observers expecting the company to go public in 2012.
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