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Facebook Sees Profit; On Target for $500M Year

Facebook has overcome doubts about whether it can turn a profit, and has turned cash-positive this year instead of in 2010 - as was previously predicted, the social network's COO Sheryl Sandberg said last week at a Churchill Club interview and event in Palo Alto. The company was on target to bring in $500 million in revenue in 2009, a board member told  [...]