Facebook Profit Surges 71 Percent As Mobile Ad Sales Soar

Facebook Inc reported a 71 percent jump in quarterly profit on Wednesday as the social media giant's push into video ads helped drive growth in its mobile ad business. 

Net income attributable to Facebook shareholders rose to $3.89 billion, or $1.32 per share, from $2.28 billion, or 78 cents per share, a year earlier. 

Total revenue rose 44.8 percent to $9.32 billion. In the first quarter, Facebook changed the method it reports earnings, focusing on Generally Accepted Accounting Principles, or GAAP, earnings instead of non-GAAP.

Source: Reuters