Facebook revenue doubles to $1.6 billion in first half of 2011

Reuters reports that Facebook doubled its revenues to $1.6 billion in the first half of this year although the social network's net income was almost $500 million at the start of 2011. Many industry observers expect Facebook to go public in 2012, as investors have pushed its valuation to roughly $80bn in private markets.

Category: 
Media Business
Industry: 
Media