Facebook’s quarterly profit, revenue beat estimates

Facebook Inc shares rose more than 2 percent in after-hours trading on Wednesday as the world's largest online social network reported higher-than-expected quarterly profit and revenue, helped by continued growth in mobile advertising. The results offered some reassurance to investors who have been concerned since the company warned in November that ad growth would likely slow "meaningfully" due to limits on ad load – the total number of ads Facebook can show to each user. Facebook has faced doubts about whether it can continue its runaway success in the face of such limits, as well as its absence from the Chinese market and criticism about its handling of so-called "fake news" posts during last year's U.S. election.

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