Report: Facebook Revenue Was $1.6B In First Half Of 2011, Net Income $500M

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It’s your mid-year Facebook revenue update; When we last spoke DST and Goldman Sachs’ investment in Facebook has brought to light some interesting revenue numbers, namely that Facebook had a net income of $200 million in 2009, on a revenue of $777 million. While the Goldman documents did not give numbers for all of 2010, analysts and reports held that Facebook’s revenue for the year could have been as high as $2 billion, with a net income of $600 million.

While many had pegged Facebook as on track to bring in $4 billion (with $1 billion in net income) in 2011, Reuters has revealed a Facebook mid year revenue number that when extrapolated falls below that mark. According to one Reuters source, Facebook had $1.6 billion in revenue in the first two quarters of this year, with net income at $500 million, a 2011 run rate of about $3.2 billion in revenue and $1 billion in net income.

While below estimates, the number is more than double what Facebook reportedly earned during the same period in 2010, and shows optimistic revenue growth resulting from the amping up of products like Facebook Ads and Facebook Credits coupled with appeal of 750 million users to brands — And lends credence to the company’s $80 billion private market valuation.

According to those people ever familiar with the matter, Facebook plans on IPOing in 2012.  Google, which currently has a market cap of $172.43 billion, reported $1.5 billion in revenue and $106 million in net income 2003, the year before its IPO. Just sayin’.