Facebook released its earnings report for Q1 2014 posting revenue of $2.5 billion, which is an increase of 76 percent since 2013. The social network exceeded Wall Street expectations which were between $2.36 and $2.4 billion. Facebook’s mobile ads represented 59 percent of its total ad revenue in the first quarter, up from 30 per cent in the year-ago period. The company’s revenue from advertising was $2.27 billion, up 82% over that time.
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