Facebook grows user base to 1.55 billion, profits up

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New advertising services and updates to its mobile app helped boost ad sales at Facebook. US stocks fell on Fed Chair Janet Yellen's comments.
Facebook chief Mark Zuckerberg on stage during a "town hall" with Indian Prime Minister Narendra Modi in September 2015. REUTERS

SAN FRANCISCO (AFP) - Facebook said Wednesday its profit in the past quarter jumped 11 per cent to US$891 million (S$1.2 billion) as advertising revenues soared.

The world's biggest social network also said the number of monthly active users hit 1.55 billion, up 14 per cent from a year earlier.

Revenues leapt 45 per cent from a year ago to US$4.5 billion.

The vast majority was from advertising, and mobile accounted for 78 per cent of ad revenues in the quarter, compared with 66 per cent a year earlier.

"We had a good quarter and got a lot done," said Mark Zuckerberg, Facebook's founder and chief executive.

"We're focused on innovating and investing for the long term to serve our community and connect the entire world."

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