Facebook's mobile focus pays off as revenue, profit surge in Q4

Facebook on Wednesday reported fourth-quarter ad revenue of $2.34 billion, with more than half of that coming from mobile ads. Overall revenue was up 63% year-over-year, and the company reported net income of $523 million, up from $64 million in Q4 2012. "I think it's inarguable that Facebook is a mobile-first company," said Facebook Chief Financial Officer David Ebersman.

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