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Facebook exceeds revenue estimates on blistering ad sales growth

Hugely popular mobile app and burgeoning video advertising business have helped push Facebook’s quarterly advertising revenue to $6.24bn

Facebook began as a social network – and then became a media delivery service, a mobile advertising giant and a massive messaging platform. But as its second-quarter financial results reveal, it is also a money-making machine.

Facebook’s quarterly profit and revenue blew past Wall Street estimates on Wednesday as the company’s hugely popular mobile app and a push into video attracted new advertisers and encouraged existing ones to spend more.

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