Facebook Inc. reported higher-than-expected quarterly profit and revenue as the world's largest social network continues to benefit from its aggressive push into mobiles and video. Mobile ad revenue accounted for 84 per cent of company's total advertising revenue of $8.63 billion in the fourth quarter ended Dec. 31, compared with 80 per cent a year earlier. Analysts on average had expected total ad revenue of $8.31 billion, according to research firm FactSet StreetAccount. Total revenue rose to $8.81 billion from $5.84 billion. Analysts on average had expected a profit of $1.31 per share on revenue of $8.51 billion, according to Thomson Reuters I/B/E/S.

Source: CBC News February 01, 2017 22:09 UTC