Facebook outperforms expectations as profits double to $3.57bn

Facebook has surpassed analyst forecasts courtesy of a strong performance from its mobile ad business which saw quarterly profits soar to $3.57bn, up from just $1.56bn a year ago, on the back of $8.81bn in revenues for the period – up from $5.84bn a year ago.
The bumper figures come despite the network being at the centre of conversations around fake news as it sought to defend its role in promoting fabricated news during the US election.
In a separate blow, it also admitted