Facebook Bringing in More Than it Spends

Facebook says it is now bringing in more money than it is spending. The social networking site had previously said it expected to achieve this goal sometime next year.

In a blog post on Facebook's Web site Tuesday, founder and CEO Mark Zuckerberg wrote that the company became "cash-flow positive" during the last quarter.

"This is important to us because it sets Facebook up to be a strong independent service for the long term," he wrote.

This does not mean that Facebook is profitable by the measurements that most companies use, though. Cash remaining after expenses could be swallowed up by other costs like taxes, debt payments or other accounting charges.

Zuckerberg also said that Palo Alto, Calif.-based Facebook now has 300 million users worldwide.