Facebook shares soar as mobile drives big jump in ad sales

January 27, 2016 10:50 PM

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Facebook Inc smashed investors' expectations with a 52-percent jump in quarterly revenue as it sold more ads targeted at a fast-growing number of mobile users, sending its shares sharply higher after hours.

The world's biggest online social network bucked the trend of underwhelming tech results from Apple Inc and eBay Inc, in the face of economic turmoil in China and a strong U.S. dollar depressing the value of overseas sales. Facebook's service is not available in China but it sells ads there.

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