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Thursday, July 24, 2014

Facebook Reports Surging Profits

Mark Zuckerberg, chief executive officer and founder of Facebook Inc., attends the Allen & Company Sun Valley Conference on July 10 in Sun Valley, Idaho. Many of the world's wealthiest and most powerful businessmen from media, finance, and technology attend the annual week-long conference which is in its 32nd year. (Scott Olson/Getty Images)

Mark Zuckerberg, chief executive officer and founder of Facebook Inc., attends the Allen & Company Sun Valley Conference on July 10 in Sun Valley, Idaho. Many of the world’s wealthiest and most powerful businessmen in media, finance and technology attend the annual week-long conference which is in its 32nd year. (Scott Olson/Getty Images)

Facebook reported on Wednesday that its profit more than doubled and revenue topped estimates for the ninth straight quarter.

More than 60 percent of the social network’s ad revenue now comes from advertising on mobile devices, according to eMarketer, after earlier concerns that the site wouldn’t be able to do well on mobile devices.

Derek Thompson of The Atlantic joins Here & Now’s Meghna Chakrabarti to discuss what this could mean for the future, both of the company and of mobile marketing in general.

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