(MENAFN- AFP) Facebook said Wednesday it closed out 2013 on a solid note with a surge in profits and revenues, helped by gains in mobile advertising.The world's biggest social network said profit in the fourth quarter jumped eightfold from a year earlier to $523 million, bringing the full-year profit to $1.5 billion.Revenues in the past quarter rose to $2.58 billion and $7.87 billion for the year."It was a great end to the year for Facebook," said Facebook founder and chief executive Mark Zuckerberg."We're looking forward to our next decade, and to helping connect the rest of the world."Facebook said the number of monthly active users rose 16 percent from a year ago to 1.23 billion, with 945 million using mobile devices.Revenue from advertising surged to $2.34 billion in the quarter, up 76 percent over the past year. Mobile advertising revenue represented some 53 percent of that, up from 23 percent in the fourth quarter of 2012.Facebook shares rallied 6.2 percent in after-hours trading to $56.86 on the stronger-than-expected results.
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