Facebook quarterly profit soars to R5.9 billion

Facebook said Wednesday its fourth quarter profit jumped eightfold to $523 million as the social network giant closed out 2013 on a solid note.

“It was a great end to the year for Facebook,” said Facebook founder and chief executive Mark Zuckerberg as the company reported a $1.5 billion profit for the year.

“We’re looking forward to our next decade and to helping connect the rest of the world.”

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