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Facebook exceeds Revenue Expectations

Facebook’s first quarter revenue surged by 49% to $8 billion and EPS of $1.04 beat analysts estimates by $0.18.

Beyond the financial metrics, Facebook also said its daily active users had increased by 18% and that 85% of advertising revenue is now coming from mobile.

CEO Mark Zuckerberg said: “We had a good start to 2017. We’re continuing to build tools to support a strong global community.”

Despite the blowout figures Facebook has initially traded down slightly in after-hours trading.

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