Facebook boosted by mobile advertising

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Social network Facebook has unveiled better-than-expected quarterly sales and revealed that mobile advertising accounted for more than half of its total ad revenues.

Chief executive Mark Zuckerberg said: “If 2012 was the year where we turned our core product into a mobile product, then 2013 was the year we where we turned our business into a mobile business.”

Revenues from mobile adverts represented 53 per cent of its total advertising revenue in the last three months of the year, up from 49 per cent in the third quarter.

Overall revenues soared 63 per cent to $2.59 billion (£1.56bn), ahead of Wall Street forecasts of $2.33bn.