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Technically yes, but actually no.

Out of curiosity, have they turned a profit yet? Last I heard, they were still getting more funding from selling shares.

According to Dave McClure, they are going to pull in > $270M in revenue for 2008:

Not sure how much they need to become profitable.

I believe that in an interview (http://ecorner.stanford.edu/authorMaterialInfo.html?mid=1567 , maybe), Zuckerberg said that they were profitable very early on, but decided to go for more growth.