Facebook revenue surges 61%


Bloomberg: The socia network reported sales rose to $2.91 billion from $1.81 billion the year before.

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Bloomberg: The social network reported sales rose to $2.91 billion from $1.81 billion the year before.

Promotions on wireless devices accounted for 62 percent of advertising sales, the company said in a statement today. That was up from 59 percent in the prior period and from almost nothing at the time of Facebook’s 2012 initial public offering.

The results once again underline how the social network, whose stock plunged after going public because of investor scrutiny over its lack of mobile revenue, has quashed those concerns. With ads on smartphones and tablets now its core moneymaker, the Menlo Park, California-based company has worked to improve the quality of the promotions, added options for video and also debuted applications that can take advantage of audiences on mobile gadgets.

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