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By Dustin Volz WASHINGTON (Reuters) – Facebook Inc prohibited global users from coordinating person-to-person private sales of firearms on its online social network and its Instagram photo-sharing service on Friday, countering concerns that it was increasingly being used to circumvent background checks on gun purchases. U.S. President Barack Obama has urged social media companies to clamp down on gun sales organized on their platforms. It updates Facebook's regulated goods policy, introduced in March 2014, that banned people from selling marijuana, pharmaceuticals and illegal drugs.

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Facebook Inc smashed investors' expectations with a 52-percent jump in quarterly revenue as it sold more ads targeted at a fast-growing number of mobile users, sending its shares sharply higher after hours. The world's biggest online social network bucked the trend of underwhelming tech results from Apple Inc and eBay Inc, in the face of economic uncertainty around the world and a strong U.S. dollar depressing the value of overseas sales. “It's phenomenal at these (currency headwind) levels that they're accelerating to that level of growth,” said Rob Sanderson, an analyst at MKM Partners.

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By Alexei Oreskovic SAN FRANCISCO (Reuters) – Google Inc's revenue grew 15 percent in the fourth quarter but fell short of Wall Street's target on declining online ad prices and unfavorable foreign exchange rates. Shares of Google edged up 0.1 percent to $510.66 in extended trading after an initial dip on the news. Google's advertising revenue has come under pressure as more consumers access its online services on mobile devices such as smartphones and tablets, where ad rates are typically lower. The growing popularity of mobile devices has made No. 1 social network Facebook Inc a greater threat in the battle for advertisers.