Reuters lights up blogosphere with exclusive on Facebook's higher than expected revenue

Reuters reported exclusively that Facebooks financials are in much better shape than previously thought, causing a big buzz in financial media. Facebooks revenue last year ran between $700 million and $800 million, well above the $550 million to $700 million cited in earlier media reports. The company also earned a solid net profit, in the tens of millions of dollars last year. The story caused a buzz in financial media: Barron’s blogger Eric Savitz wrote of the Reuters report as did widely followed tech blog GigaOM. The Reuters story was cited by Bloomberg, Dow Jones and the New York Times’ Dealbook blog, along with many other websites, blogs and media outlets such as Time, New York magazine, the Telegraph and the Toronto Star. The Facebook story topped the WSJ’s Deal Journal list of “Winners and losers of the Week that Was”.