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MarketWatch First Take: Facebook’s growth may have peaked, so what’s next?

Facebook Inc.’s far better-than-expected earnings report could represent a peak for the core social network, so investors must start looking to Facebook’s other businesses if they expect more growth.

The social network managed to beat Wall Street’s estimates in Wednesday’s fourth-quarter report despite a tough comparison with last year’s holiday quarter, which saw 57% ad revenue growth. Facebook FB, +0.82% said its fourth quarter ad revenue surged 53% to $8.6 billion, initially fueling a 3% stock jump in after-hours trading. Total Facebook revenue in the fourth quarter grew 51% to $8.8 billion, compared with 52% overall revenue growth in the year-ago quarter.

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