Facebook CEO Mark Zuckerberg speaks to a press conference at the headquarters of Facebook in Palo Alto, California, on May 26, 2010.
Credit: Reuters/Robert GalbraithBy Matthew Goldstein and Alexei OreskovicNEW YORK/SAN FRANCISCO | 7 January 2011 6: 20 pm EST
NEW YORK/SAN FRANCISCO (Reuters) - Facebook generates profits at a faster pace than expected and probably attract investors so much this year he will have to disclose financial data similar to a company in April 2012, according to a document circulated by Goldman Sachs.
The move could prepare a much-anticipated Facebook in 2012, initial public offering while there is no guarantee that the social networking company would choose to sell shares to the public simply because it is necessary to open its books to the public.
No. 1 worldwide Internet social network, Facebook received $ 355 million in net income in the first nine months of 2010 revenue of 1.2 billion, according to a source who has received the documents that Goldman Sachs has provided its customers on Thursday.
Goldman began to deliver handmade copies of private placement of 101-page memorandum for a 1.5 billion Facebook offering rich customers shortly after the lunch hour in New York, the source.
Goldman client said that he had received a separate financial statement of six pages containing information about the social networking company.
The document provides some more detailed financial information yet on Facebook, that Goldman was recently valued at $ 50 billion in separate funding of $ 450 million.
That assessment is high, but outrageous step based on the preview in the financial performance of the business and growth it implies, said Ryan Jacob, Jacob's Fund of Internet.
He said "it just shows that these companies can generate 30-40%, potentially, margins, operating." "They probably did at least 500 million in net income in 2010."
Values securities Wedbush analyst Lou Kerner, who holds shares of Facebook, said, "income type of are our expectations."
"The surprise was on profitability. I think it points out that Facebook is likely to have margins that will exceed the margins of Google, "he says.
The memo said Facebook is likely to have more than 500 shareholders this year, according to someone else who has reviewed the material, and that the company can begin to file public reports of its financial performance in April 2012.
THE BIG 500
U.S. securities regulations require that companies with more than 499 shareholders to disclose financial information.
Facebook, which was founded in a dormitory at Harvard in 2004, has more than 500 million users and challenging Web as Google Inc. and Yahoo Inc. business big time users online and advertising dollars.
"This year you could do what they will probably be North of $ 800 million and, probably, nearly half a billion," says Fund Jacob Jacob Internet in reference to net income of the company.
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