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Business Matters: Facebook Triples Quarterly Profits

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Facebook Triples Quarterly Profits

28/04/2016 GMT

BBC World Service - Business Matters, Facebook Triples Quarterly Profits

Facebook reported a 195% jump in first quarter profits thanks to new advertising income.

Facebook has announced that its quarterly revenues have leapt by almost fifty-two percent, as the number of people using the social network continues to grow.

Facebook is the unstoppable rocket of social media. It has just announced that quarterly revenues are up by almost 52%, beating even the optimistic forecasts of Wall Street. Active users are now 1.65 billion and rising. Mobile advertising revenue is a big part - 82% - of revenue. And, Facebook's ventures into virtual reality technology are taking it in new directions.

Australia is facing something of a dilemma. It has been funding camps in Papua New Guinea and on the island of Nauru to hold migrants trying to reach Australia. The camps have been criticised for alleged human rights abuses, and now the PNG supreme court have ruled the detention camp there illegal. So what happens to around 800 men held there when it closes? And, what of the company that is contracted to run the camp - Broadspectrum? It is currently fighting off a hostile takeover bid by Ferrovial, the Spanish infrastructure company that owns London's Heathrow Airport.

Some of the biggest names in the international political and economic system are adding their voices to the Brexit debate here in Britain. They are supporting the UK Government's official position - which is to urge voters to stay in Europe. Last week, it was President Obama. Now it is the secretary General of the club of rich countries, the OECD, Angel Gurria.

How does racing on a sled 1,049 miles across frozen Alaska's scenic beauty, pulled by a team of 16 dogs sound? That's the Iditarod - the longest and most prominent sled dog race in the world. It follows routes blazed through history by fur trappers, native Americans and gold rush miners - all seeking to explore Alaska's bounty. But getting a dog team even to the start requires more than solid training and good cold weather gear.

We are joined by two guests on opposite sides of the Pacific - Peter Morici, professor of International Business at the University of Maryland and Ross O'Brien, technology expert and journalist in Hong Kong.

(Photo: Facebook founder and chief Mark Zuckerberg. Credit: Kay Nietfeld/AFP/Getty Images)

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