Facebook 2009 revenue reportedly neared $800 million

Facebook earned a solid profit in 2009 with revenue close to $800 million, Reuters reported Friday citing sources close to the situation.

The six-year-old online site is reportedly the world’s largest social network and boasts nearly half a billion users.

The report of the company’s 2009 profits are considerably higher than analysts had previously expected.

“They are downplaying their performance. There’s no upside in getting people’s expectations high, it’s always better to go low,” said one of Reuters’s sources.

The better than expected results could be a sign that Facebook founder and Chief Executive, Mark Zuckerberg, is close to taking the company public.