Facebook reports sharp rise in revenue, shares dip

Facebook Inc on Thursday posted earnings growth that beat Wall Street's high expectations as the world's biggest online social network said daily mobile users exceeded the one billion mark for the first time. Mobile ads accounted for 84 percent of Facebook's total advertising revenue of $6.82 billion in the third quarter that ended Sept. 30, compared with 78 percent a year earlier. The company is also reaping the benefits of a big push into video, both on Facebook itself and on the Instagram pho