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Facebook's quarterly profit plummets, users grow by 13%

  • Exceeding expectations, Facebook has posted a quarterly profit of $512 million for the three months ending March, a drop of 20% from the previous year.

    The social networking firm’s revenue, however, was up by 42% to $3.5 billion, also better than expected.

    Meanwhile, its monthly active users have risen by 13% from the previous year’s 1.44 billion. Monthly mobile Facebook users also saw an increase of 24% to reach 1.25 billion, the company said.

    Chief Executive Mark Zuckerberg said that the firm had made “a strong start to the year.”

    Tagged as: Facebook, Facebook quarterly profit, social networking firm, monthly active users, Mark Zuckerberg, business news