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Facebook trounces Wall St estimates with sharp ad sales growth

It now has more than 1.7 billion monthly users, well ahead of any rivals

Published Thu, Jul 28, 2016 · 09:50 PM
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San Francisco

FACEBOOK Inc provided more evidence on Wednesday that it can turn eyeballs into profit as the maker of the world's most popular app and social website trounced Wall Street's estimates, sending its shares to an all-time high.

The leading social media company's mobile app and push into video attracted new advertisers and encouraged existing ones to spend more. It now has more than 1.7 billion monthly users, well ahead of any rivals.

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