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.

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The social-networking site earned $2 billion in worldwide revenue last year, according to the research company.

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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.

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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.

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 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.