According to Goldman Sachs documents, Facebook made $500 million in the first half of 2011.
Additionally, revenue doubled to $1.6 billion.
The results are much stronger than expected, as investors were hoping for $2 billion in revenue for the entire year.
Based on secondary market valuation and investor valuations, the behemoth social networking site is worth $80 billion. The company is expected to go public in 2012.
In 2010, the company had revenue of around $1.5 billion, and net income of $400 million.
Facebook has over 750 million users around the globe.