Mobile ad revenue lifts Facebook past Wall Street targets

By Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc's fourth-quarter revenue jumped 63 percent, beating Wall Street targets, as the Internet company's mobile ad sales continued to accelerate. Shares of Facebook surged 10 percent to $58.90 in after-hours trading on Wednesday. "The mobile shift is happening and it's working really well for Facebook," Chief Operating Officer Sheryl Sandberg told Reuters in an interview. Facebook said it now has 1.23 billion monthly users, with 945 million accessing the service on a smartphone or tablet.

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