Social networking site Facebook is projected to generate up to $1.75 billion in revenues this year, the biggest forecast yet by a reputable investment banking group.
Last month eMarketer said Facebook's ad sales for the year will hit $1.2 billion. But Cowan & Co., a 90 -year old investment bank says the popular social network site may even hit as much as $1.75 million when non-ads revenues are added to their original forecast of $1.6 billion.
Cowan &Co Analyst Jim Friedland expects Facebook’s U.S. ad sales to total $1.05 billion and international ad sales to come in at roughly $500 million. eMarketer put U.S. ad revenue at $835 million and worldwide sales at $450 million. Next year, Friedland expects Facebook’s ad sales to total $3.2 billion, nearly double what eMarketer is expecting.
Doug Caverly of Webpronews said "These sorts of numbers are sure to attract a lot of attention, perhaps causing advertisers to spend more money to stand out and causing Google to divert more engineers to the Google Me project".
Launched in February 2004, Facebook has more than 500 million active users. The popular social networking site was founded principally by Mark Zuckerberg along with Chris Hughes,Dustin Moskovitz,Eduardo Saverin.
The popular site is owned and operated by Facebook, Inc.