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Mobile ad growth sets scene for Facebook share surge

30
Jan
2014

(Reuters) – Facebook Incs shares were set to open up 15 percent at a life high after the companys resounding revenue growth underscored CEO Mark Zuckerbergs success in selling ad space on the social networks mobile app. At least 20 brokerages raised their price targets on Facebooks shares, which were trading at $61.30 before the bell on Thursday. Facebooks fourth-quarter revenue rose to $2.585 billion from $1.585 billion in the year-ago period, beating analysts average expectation of $2.33 billion. Facebook said revenue from mobile ads represented 53 percent of its total fourth-quarter advertising revenue, up from 49 percent in the third quarter.

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