DHAKA: Social media giant Facebook said that profits more than doubled in the fourth quarter of 2015.

Net profit for the three months to December rose to $1.56bn, up from $701m.

The company also said that 80% of its advertising revenue in that period came from mobile advertising, up from 69% a year earlier.

Shares jumped 8.7% in after-hours trading in New York on the better than expected results.

Revenue for the full year jumped 44% to $17.9bn, with net profit rising about $800m to $3.7bn.

The results mean that Facebook has now beaten analysts’ expectations for ten consecutive quarters.

Rob Sanderson, an analyst at MKM Partners, described the growth as phenomenal.

Ken Sena, an analyst at Evercore ISI, said the advertising growth was much better than expected.

‘It signifies the importance of what they're providing to advertisers,’ he said, reports the BBC.

BDST: 1248 HRS, JAN 28, 2016
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