USA: The highly-popular social networking site Facebook has achieved an annual profit of £1.9 billion last year which is almost equivalent to $3 billion.
The reason behind the enhancement of Facebook profit is said to be the success of its mobile advertising on smart phones as well as tablets.
Recently, Apple has reported the biggest quarterly profit of £11.8 bn. This is considered as the biggest ever profit made by a public company. It is also said that they have also earned more than £11.8bn during the same period last year.
During the fourth quarter earning call, Facebook has revealed that more time is being spent by their users on this social networking site nowadays.
Mark Zuckerberg, one of the five co-founders of the company said that the average time used to spend on the site had risen by ten per cent when compared to last year.
According to the Facebook chief executive, the time frame has been considered as a good quarter for the social networking site creating a great year end.
The success of Facebook has contrasted many other well-established Internet companies, like Google, Yahoo etc which have been experiencing advertising profits struggle following the shift from desktop computing to mobile.
As the Facebook is decided to step up efforts to expand its overseas services, heavy investment can be expected from the social networking site.
Currently, the social networking site has been offering messaging service WhatsApp, photo-sharing service Instagram and virtual reality headset maker Oculus Rift.

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