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The Boston Globe

Business

Facebook results beat expectations

SAN FRANCISCO — Wall Street is still not sure about Facebook.

After an eight-month roller coaster ride on the public market, the company on Wednesday beat earnings expectations by aggressively ramping up targeted advertisements to its users, including on mobile phones. It reported fourth-quarter revenues of $1.59 billion, representing 40 percent growth. Analysts were looking for a 34 percent growth in revenue, to $1.52 billion in this quarter, according to analysts surveyed by Bloomberg.

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