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Facebook Revenue Surges, Boosted by Ad Sales

This story originally appeared on Reuters

Facebook Inc reported a 51.7 percent jump in revenue for the final quarter of 2015 as new advertising formats and an improved mobile app drove a sharp rise in ad sales.

The company's total revenue rose to $5.84 billion from $3.85 billion a year earlier, with ad revenue increasing 56.8 percent to $5.64 billion in the holiday shopping period, when spending on advertising typically spikes.

Net income attributable to common shareholders rose to $1.56 billion, or 54 cents per share, in the three months ended Dec. 31 from $696 million, or 25 cents per share in the same period of 2014.

Facebook, which has the world's most popular smartphone app, has also been benefiting from a surge in video views that has attracted advertising dollars.

(Reporting by Abhirup Roy in Bengaluru and Yasmeen Abutaleb in San Francisco; Editing by Ted Kerr)

This story originally appeared on Reuters