Facebook Quarterly Revenue, Profit Top Estimates on Ad Growth
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Facebook Inc. reported quarterly revenue that topped analysts’ estimates, fueled by the mobile advertising business.
The social network’s fourth-quarter sales totaled $3.85 billion, exceeding the average analysts’ prediction of $3.77 billion, according to data compiled by Bloomberg. The percentage of ad sales from mobile phones was 69 percent, up from 66 percent in the third quarter, the company said in a statement Wednesday.