Facebook's mobile-advertising business now accounts for 41 cents of every dollar of the company's ad revenue, according to an earnings report. The news drove Facebook's shares up 17% in after-hours trading Wednesday, suggesting that investors believe the social network has figured out how to survive and thrive in the mobile-Internet world. "Facebook has discovered the formula to begin significantly extracting value from its 1.16 billion global users," said Ronald Josey of JMP Securities.

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