Facebook revenue estimated at $4.27 billion
Facebook's global revenue is expected to double this year to $4.27 billion, research firm eMarketer said Tuesday.
The Palo Alto, California-based social network is expected to earn $3.8 billion worldwide this year in advertising revenue, eMarketer said, up 104 percent from the $1.86 billion it raked in last year.
The research firm also said revenue from Facebook Credits, the currency used on the site, is estimated to reach $470 million, up from $140 million last year.
"Facebook's revenue streams will continue to diversify, with ads representing a decreasing proportion of total revenue while other sources such as Facebook Credits will grow," eMarketer principal analyst Debra Aho Williamson said in a statement.
Facebook will earn $5.78 billion in worldwide ad revenue in 2012, eMarketer estimated.
As a privately held company Facebook does not disclose figures on its financial performance.
(c) 2011 AFP