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Facebook reports 58% jump in Q1 profits
- USA: Saturday, May 04 - 2013 at 05:44
Facebook has said its first-quarter profit increased on the back of higher revenue from mobile ads and apps, AFP has reported. Net income for the quarter jumped 58% from a year ago to $217m, just below market forecasts, but revenues were better than expected, rising 38% from a year ago to $1.46bn. Mobile ads accounted for 30% of advertising revenue for the quarter. Facebook said its monthly active users rose 23% from a year ago to 1.11 billion, including 751 million who accessed the network on mobile devices.
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