Facebook’s Profit Soars Past Expectations, Fueled by Mobile Ads - NYTimes.com

Lots to like, for Facebook investors

"Mobile devices accounted for nearly two-thirds of the company’s revenue, which mostly comes from ads shown on the Facebook website and apps. Facebook, based in Menlo Park, Calif., recently announced a new network that allows advertisers to target Facebook users when they are using other apps, and it acquired LiveRail, a video ad service, in order to expand its ability to sell lucrative video ads that would run non-Facebook apps. The results sent Facebook shares up 4 percent in after-hours trading to more than $74, a new high."

Facebook’s Profit Soars Past Expectations, Fueled by Mobile Ads - NYTimes.com