Facebook, Fourth Quarter Earnings | featured news

Facebook Inc doubled its mobile advertising from the previous quarter as the world's No. 1 social network expanded its business aggressively onto handheld devices.

Facebook has faced a few controversies in the past few months, including controversies over privacy policies on its own site and on its photo-sharing site, Instagram. Still, the company has bolstered investor confidence with a series of moves that seem to lay the groundwork for Facebook to make more advertising dollars, particularly in the all-important mobile space.

Yahoo Inc's quarterly net revenue slid 4 percent and it forecast a further slide this quarter as it struggles to revive growth in the face of intense competition from Google and Facebook.