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Facebook Hums Along, Eyes Phase Two

There was a day when Facebook struggled to prove it could be a real business, back when the social network seemed to have missed the train on mobile and couldn’t seem to convince advertisers of its value. That was, oh, 18 months ago.

On Wednesday Facebook far exceeded expectations when it reported its quarterly earnings. The company made $2.02 billion in revenue (investors expected $1.91 billion), 49 percent of which came from mobile. Its monthly active users grew 18 percent over the last year to 1.19 billion. Every day 728 million people use Facebook, with 507 million people logging onto mobile.