Facebook’s revenue surges 50.8 pct

Facebook has reported a strong end to its financial year as the social network’s monthly users jumped to more than 1.86 billion. The technology giant, which also owns virtual reality firm Oculus as well as Instagram and WhatsApp, revealed its revenue had risen 54 per cent per cent in the last year to $US27.6 billion , while net income more than doubled from $US3.7 billion to $US10.2 billion .