Facebook Sales Top Estimates, Fueled by Ads; Shares Jump
- Social network added users in North America after Q4 decline
- Mobile now accounts for 91 percent of overall ad revenue
Facebook Quarterly Earnings Beat Expectations
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Facebook Inc. has been embroiled in one controversy after another. But ad sales are near records and users keep flocking to the social network.
First-quarter revenue rose 49 percent to $11.97 billion, beating the $11.4 billion average analyst projection, according to data compiled by Bloomberg. In a statement Wednesday, Facebook said it now has 1.45 billion daily users, matching estimates on this key measure of engagement. Shares surged more than 5 percent in extended trading.