Business & Finance

Facebook Earns $5.2bn From Ads, Reports 300% Profit Increase

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Internet giant, Facebook, have seen its shares jumped after it reported a tripling of first quarter profits from a year earlier to $1.51bn.

The firm’s advertising revenues also rose to $5.2bn, with more than 80% coming from mobile. Facebook’s focus on live video attracted new advertisers, while sales on existing services also grew. The firm reported $3.5bn in the corresponding period last year.

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Facebook added that it intended to continue buying other companies, but only those offering services that could be “ubiquitous”.

BBC


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