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Facebook’s Generate It’s First $1 Billion Quarterly Profit

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Mark Zuckerberg got richer even when he was on paternity leave.

The college drop out’s creation, Facebook, made more than $1bn in quarterly profit for the first time this week as a surge in people accessing the social network on mobile phones led to a leap in advertising revenues.

On Wednesday, the company revealed a 52pc increase in revenues for the final quarter of 2015, sending shares soaring in after-hours trading.

This means facebook’s profit more than doubled year-on-year $1.56bn (£1.1bn) due to the fact that the number of people using the social media network rose by 40 million at a rate of almost 500,000 a day.

This surge is closely related to the fact that there have been a surge in the use of mobile phones. Which has helped the brand in increasing it’s revenue from advertising.



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