Facebook Pulled in $800M in '09

Facebook made a lot more money last year than it let on. The company’s actual revenues were close to $800 million, sources tell Reuters, which translates into tens of millions in profits. Facebook had forecast $500 million in revenue, and analysts had assumed the actual number was in that vicinity.

“They are downplaying their performance,” said one source. “There’s no upside in getting people’s expectations high, it’s always better to go low.” The report is also sure to intensify calls for an IPO from the social media behemoth. (More Facebook stories.)