Facebook doubles fourth quarter profits to $1.56bn

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Social media giant Facebook said that profits more than doubled in the fourth quarter of 2015, the BBC reports.

Net profit for the three months to December rose to $1.56bn, up from $701m.

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 $17.9bn, with net profit rising about $800m to $3.7bn.

The results mean that Facebook has now beaten analysts’ expectations for ten consecutive quarters.


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