Compare Gadgets Vs. Compare

Insider reveals Facebook's $3.5bn cash hoard

Insider reveals Facebook's $3.5bn cash hoard Created by MG1 on Dec 19, 2011

Facebook is sitting on a massive $3.5bn in cash according to a well-placed mole's leaked figures, revealing that the social networking giant is earning considerably more money than first believed.
According to the internal figures that were leaked by Gawker, the social network had operating revenues of $2.5bn between January and September of this year. The company's assets currently sit at $5.6bn, including a frankly enormous $3.5bn in cash. Facebook also looks set to hit the $1bn mark in profits this year, with recorded figures of $714m between January and September. Clearly, Mark Zuckerberg's outfit is making considerable profits despite increased competition from the likes of Google.
Rumo... »read more

More at: TechSpot Add additional source

Post your comment

Want to post a comment? Only registered users can post, please log in or register.