Facebook Global Revenue Expected to Double to $4.27 Billion in 2011
Facebook is projected to earn $4.27 billion in global revenue this year, more than double its 2010 revenue, according to a new report from eMarketer.
The social-networking site earned $2 billion in worldwide revenue last year, according to the research company.
Meanwhile, Facebook's worldwide advertising revenue is expected to total $3.8 billion in 2011, up from $1.86 billion last year.
EMarketer also estimated revenue from Facebook credits, a virtual currency used to buy virtual goods in site-supported games, for the first time. Revenue is expected to reach $470 million this year, more than triple 2010's $140 million.
Ads are expected to account for 89% of Facebook's total revenue in 2011, down from 95% in 2009, while Facebook Credits revenue will grow to 11% of the company's total revenue, compared to 7% 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 U.S. ad revenue, Facebook is expected to earn $2.01 billion this year, totaling 16.3 percent of the $12.33 billion U.S. display ad market.