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Facebook eyes $US2 billion profit: source

Facebook, the world's most popular social-networking service, could generate more than $US2 billion in earnings during 2011, a a source has revealed.

The site, which does not disclose its financials, and now has more than half a billion users, has lured high-profile, deep-pocketed advertsiers like Coca-Cola, JPMorgan Chase and Adidas to its pages.

Last year, Facebook may have generated about $US2 billion in total revenue, it was revealed in December. That would be more than double the $US777 million in sales the company reaped in 2009, according to a person who viewed documents sent to potential investors in January.
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"Right now, what I see is a total 'Like' frenzy among the major marketers," said Debra Aho Williamson, an analyst at researcher EMarketer Inc.

"Major marketers are looking at how to drive people to interact with them on Facebook. The advertising spending is probably going up as a result."

Larry Yu, a spokesman for Palo Alto, California-based Facebook, declined to comment.

Facebook said in January it would probably surpass the threshold of 500 shareholders this year, and therefore expects to start filing public financial reports no later than April 30, 2012. 

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