If there were any doubts about social networks making money after all of their debts, development costs and acquisition prices, take a look at MySpace's recent profits.

News Corp. has announced that MySpace has made a profit of $10 Million on $550 million in revenues, with almost 4.3 billion page views per day. When Rupert Murdoch bought the social network it wasn't clear to many if and when they would recoup their initial investment. This reported amount far exceeded News Corp's initial benchmarks, and with MySpace part of the Fox Interactive arm, the company said they will approach the $1 Billion mark in annual revenue on that sector alone.

The earnings results also included revenue from MySpace's deal with Google to monetize search results.