Facebook Q1 revenue grows 72 percent

SAN FRANCISCO, April 23 Wed Apr 23, 2014 4:07pm EDT

SAN FRANCISCO, April 23 (Reuters) - Facebook Inc's mobile advertising business continued to accelerate in the first three months of the year, helping the Internet social networking company top Wall Street's revenue target.

Facebook said that mobile ads represented 59 percent of its ad revenue in the first quarter, up from 30 percent in the year-ago period. Facebook's overall revenue grew 72 percent year-on-year to $2.5 billion in the first quarter, above the $2.36 billion expected by analysts polled by Thomson Reuters I/B/E/S.

(Reporting by Alexei Oreskovic; Editing by Cynthia Osterman)

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