SUMMARY
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Facebook surprises Wall Street by showing it can make money from folks on smartphones and tablets. Following the beating that it took after its initial public offering, the social network’s stock prices skyrocketed following its latest financial report. In the quarter that ended June 30, revenue climbed to $1.81 billion, up 53% from the same period a year earlier. Facebook says 41% of its ad revenues came from mobile, compared with 30% in the prior quarter and virtually nothing a year ago. Facebook has made a priority of following its more than one billion members onto smartphones or tablets as lifestyles increasingly revolve around accessing the Internet from mobile devices.
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