Facebook doubles fourth quarter profits
Online Desk
28 Jan 2016 02:51 AM
Social media giant Facebook said that profits more than doubled in the fourth quarter of 2015, reports BBC.
Net profit for the three months to December rose to $1.56 bn (£1.09 bn), up from $701 m.
The company also said that 80% of its advertising revenue in that period came from mobile advertising, up from 69% a year earlier.
Shares jumped 8.7% in after-hours trading in New York on the better than expected results.
Revenue for the full year jumped 44% to $17.9 bn, with net profit rising about $800 m to $3.7 bn.
The results mean that Facebook has now beaten analysts' expectations for ten consecutive quarters.
Rob Sanderson, an analyst at MKM Partners, described the growth as phenomenal.
