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Facebook quarterly revenue beats expectations

April 28 (Reuters) - Facebook Inc beat market expectations for quarterly revenue on Wednesday, powered by higher ad spending by businesses during a pandemic-induced surge in online traffic.

Total revenue, which primarily consists of ad sales, rose to $26.17 billion in the first quarter ended March 31, beating analysts’ average estimate of $23.67 billion, according to IBES data from Refinitiv. (Reporting by Noor Zainab Hussain, Sheila Dang and Elizabeth Culliford; Editing by Arun Koyyur)

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