Facebook Numbers Feed IPO Outlook

Monday May 2nd 2011 by Datamation.com Staff
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The social networking site is growing faster than it had projected.

Wall Street Journal: Facebook is growing faster than it had forecast, raising the stakes for an initial public offering that could happen as early as next spring. According to unnamed sources, the social networking company is on track to exceed $2 billion in earnings before interest, taxes, depreciation and amortization for this year.

Earlier this year, when Goldman's and Digital Sky Technologies invested in the company, the reported share price valued the company around $50 billion. The source says Facebook's current sales would justify a valuation of about $100 billion, making the firm more valuable than companies like Amazon and Cisco.

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