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Friday, 31 January 2014 - 10:45
Facebook stock surges on strong earnings, unveils new app
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Facebook shares jumped to record highs yesterday, buoyed by news of stronger-than-expected profits and sizzling gains in mobile advertising revenue.

The gains came as Facebook introduced a new mobile app aimed at becoming a social newspaper of sorts for the members of the world's biggest social network.

The stock ended up 14.1 percent at an all-time closing high of 61.08 dollars a day after Facebook reported that profit in the fourth quarter jumped eightfold from a year earlier to 523 million dollars, boosting its net income for the year to 1.5 billion dollars.
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