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Facebook toasts $2.5bn revenue

Facebook has reported record revenues of $2.5 billion (£1.5 bn) from 750 million daily users worldwide.

The social networking site founded by Mark Zuckerberg showed year-on-year revenue rise of $1bn to the end of 2013. It was the third consecutive quarterly revenue increase, $2.585 billion (£1.56bn) up from the previous high of $2.016 billion (£1.22bn), three months earlier.

More than 90% of the revenue came from advertising after Facebook began placing video adverts in users' news feeds.

Chief executive Mr Zuckerberg said: "It was a great end to the year for Facebook."

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