Facebook had 989 million active users world wide and profits leaped to £1.04bn

Facebook the social networking site for Harvard University students back in 2004, has now more than 989 million active users worldwide. Faccebook  advertising revenue rose to £3.6bn  $5.2bn with more than 80 per cent coming from mobile. Their shares have leaped after reporting a tripling of first quarter profits from a year earlier to  £1.04 bn $1.51bn.

The result exceeded Wall Street’s expectations and Facebook shares rose by more than 9 percent in after-hours trading.