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Facebook’s earnings surprise analysts who projected a revenue of $5.26 billion

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Facebook reported a better-than-expected 51.9 percent rise in quarterly revenue.

Its increasingly popular mobile app and push into live video continue to attract new advertisers and encourage existing ones to boost spending.

Mobile advertisement revenue accounted for about 82 percent of total advert revenue in the first quarter of the year, compared with about 73 percent a year earlier.

Facebook said it had 1.65 billion monthly active users as of March 31, up from 1.44 billion a year earlier.

The company’s net income rose to $1.51 billion, in the first quarter from $509 million.

Total revenue also rose to $5.38 billion from $3.54 billion, with ad revenue increasing 56.8 percent.

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