08/05/2013 10:28 am ET Updated Jul 28, 2014

Facebook Sets Eyes On Latin America's Rising Potential

LIMA, Peru — Latin America, where 1 in 3 people already have Facebook accounts, will increasingly drive the social network’s global profits.

That is according to Alexandre Hohagen, Facebook’s vice president for the region, in an exclusive interview with Reuters’ Spanish-language service, in which he highlighted both Latin America’s already heavy use of the website and its potential for growth.

On Wednesday, shares in the world’s largest social network finally surpassed their value when they debuted on the stock exchange in May 2012, powered by major growth in smartphone advertising revenue.

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