Facebook profits up by 40%

Facebook's revenue in the final three months of 2012 has gone up 40% compared to 2011 - to $1.585 billion. The firm's latest financial report shows daily active users at 618 million on average in December, with monthly active users at 1.06 billion.

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Mobile devices 'Facebook's greatest opportunity'

Facebook's biggest challenge and its greatest opportunity now lies in mobile devices. Most Facebook users access it using a mobile phone or tablet computer, but the company only started showing mobile ads about 9 months ago.

Facebook unveiled revenues for the final quarter of 2012 today Credit: Press Association

Facebook said it generated 23%, or $306 million, of advertising revenue from mobile, up from 14% in the third quarter.

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