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Social media company returns strong results

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FACEBOOK has bounced back from its stockmarket woes with strong fourth quarter results for 2012.

The company doubled its mobile advertising revenue, which now makes up for 23% of the company's ad revenue.

But the gains in mobile advertising were tempered with a 79% fall in net income.

Facebook's strongest ad revenue is still in the US and Canada, which accounted for 47% of the company's fourth-quarter revenue.

The company has also released some interesting statistics.

On New Year's Day, users uploaded 600 million photos to Instagram, setting a new record for the photo sharing website, which Facebook bought for $1 billion US last year.

There have also been gains in Facebook Offers, one of many revenue-boosting new features added to the social networking site, with 42 million users claiming an offer so far.

Topics:  facebook social media stockmarket



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