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Facebook reaches 2 billion users as revenue jumps

CALIFORNIA: Facebook on Wednesday reported that its quarterly profit surged as its ranks of monthly users closed in on two billion, but warned of rising expenses and slowing revenue growth. The leading social network said it made a profit of $3.06 billion on $8.03 billion in revenue in the first three months of this year, posting increases of 76 percent and 49 percent, respectively, compared to the same period last year. Meanwhile, the number of people using Facebook monthly increased 17 percent to 1.94 billion,…