BREAKING NEWS

BREAKING NEWS

Facebook documents reveal strong profits

Now Reading:

Facebook documents reveal strong profits

Text size Aa Aa

It turns out Facebook is making far stronger profits than analysts had calculated.

According to documents provided to clients by Goldman Sachs – which is a major investor in Facebook – the social networking internet site earned the equivalent of around 274 million euros in the first nine months of last year.

Goldman is offering 1.1 billion euros worth of Facebook shares to its clients.

Facebook will likely attract so many investors this year that it will have to disclose financial data similar to a publicly traded company by April 2012, according to the Goldman Sachs document.

That could set the stage for a much-anticipated initial public offering of shares in 2012, however there is no guarantee that the social networking company would choose to sell shares to the public simply because it is required to open its books to the public.