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Thursday, July 24, 2014

Report: Mobile Drives Facebook Revenue

Facebook Chief Executive Mark Zuckerberg has officially silenced the skeptics, according to The NY Post.

For all those wondering if the Harvard dropout could keep his winning streak alive, the social network Wednesday beat Wall Street’s expectations for a fifth straight quarter and saw its shares hit new highs.

Mobile advertising drove a 61 percent increase in revenue in the second quarter. Analysts predicted revenue of $2.8 billion, 55 percent higher than a year ago.

Facebook said that mobile advertising accounted for 62 percent of total sales, up from 41 percent a year ago, as users migrate to mobile devices from desktop computers.

“This is a good quarter for us,” Zuckerberg said in a call with analysts Wednesday, sounding almost blasé.

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