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There have been plenty of ups and downs for business up late and MySpace is no different. With Facebook surpassing MySpace worldwide in terms of users (though MySpace is still dominant in the US), reports according to Peter Kafka suggest that the growth of MySpace has flattened out. Sad isn’t it? But there is enough analysis present to comment at MySpace still doing a good bit of business. Pretty contradictory and confusing, that is exactly what one feels when you go through the report.

Goldman Sachs has put Rupert Murdoch’s web business to be around $3 billion, almost half of what had been expected earlier this year. The estimates put up by Goldman were based on FIM’s earning and it adds:

MySpace and the rest of Murdoch’s Web properties are now a real business, making real money.

The business has been slump over all, fairly short of what had been expected with the owners still failing in to convince investors and advertisers to pay up for the billions of page views sites generate. That’s not the end there, Analyst Mark Wienkes suggests that the figures estimated are going to pull in $155 million in EBITDA in 2008.

The interesting thing to notice here is that if it continues to go at such, the revenue will turn out to be $2.3 billion and if this is taken to 20 times, the revenue generated would end up around $3.1 billion almost twice as much that had been spent to acquire the properties.

However the Year-over-Year turn out have been disappointing, save for that MySpace’s US audience has made huge leaps in numbers. FIM is set to achieve a better result after it ends the current contract with Google by 2011.

So is this saying that once the ad-recession sub-side companies with a much mature growth will be the hub of investment and profit generation? Let’s just hope and see what real worth does MySpace turns out with.