Huge growth in mobile usage and advertising fueled a big quarter for Facebook Inc.
The world's largest social network brought in $5.84 billion in revenue in its fourth quarter, up 52% from $3.85 billion the previous year. Profit more than doubled to $1.56 billion during the three months ended Dec. 31, up from $701 million a year earlier.
Facebook also reported that it now has 1.59 billion monthly active users, a 14% increase year over year, and that more than 1 billion people now use the social network every day.
An average of 934 million people accessed Facebook on their mobile devices daily, an increase of 25% year over year.
The results handily beat the...