The Reuters news agency reported the higher revenue, citing unnamed sources. One of those same sources told the agency Facebook had also seen net profits in the tens of millions of dollars last year, Reuters said.
Industry blog Inside Facebook had previously estimated that Facebook made as much as $700 million in revenue last year, and Facebook board member Marc Andreessen said last year that the company would surpass $500 million in revenue for 2009.
Privately held Facebook doesn't reveal specifics on its financial numbers.
The Inside Facebook blog also predicts Facebook could nab more than $1 billion in revenue for 2010. Much of the company's revenue growth is presumably the result of advertising dollars, and in order for the growth to continue, Facebook will have to be sure to stay ahead of the ad game in a field that's evolving faster than ever.