Update: Earnings and revenue beat the street. Shares are down after hours.
Bloomberg is tweeting the numbers now.
Analyst estimates, from Yahoo! Finance:
Business Insider will be live blogging. You can check out how the market reacts with a real-time stock quotes from Yahoo! Finance. And you can listen to Facebook's live conference call discussing the results at 2 p.m.
Bloomberg TV is also covering the report live. Watch here.
People seem to be expecting big things from this report. From Yahoo! Finance today:
To say expectations are high for Facebook's (FB) fourth quarter earnings results this afternoon would be like saying the social media website has a lot of users. In both cases, the devil is in the details, and investors are hungry to see if they got what they paid for these past few months.
"I expect a big number," says Eric Jackson, shareholder and founder of Ironfire Capital, in the attached video. "I think Facebook probably had a great fourth quarter, it's their biggest quarter of the year."
But whether big will be big enough to satisfy investors who have seen the stock rise nearly 50% in three months remains to be seen, as Jackson says "people have been piling in since the end of the monster lock-up in November."
And from the Mercury News...
Wall Street expects a strong fourth-quarter earnings report from Facebook on Wednesday, amid signs the giant social networking company is feverishly building new products and working to expand its mobile ad business.
Investors and financial analysts say they're hoping Facebook's fourth-quarter results will show the impact of new mobile ad campaigns and other initiatives -- including a program that shows ads to Facebook users based on their visits to other websites, and the online retail service known as Facebook Gifts.
The story on Facebook, which had a disastrous IPO, has changed since its last earnings report, which surpassed expectations. Not everyone was impressed, but the market has shown a lot of confidence in the company's potential. One of the big questions has always been around its ability to make money from mobile ads. AllThingsD puts it this way today:
It’s round three for Facebook’s quarterly earnings, but all eyes will still be on the same key areas of the company’s business: Social ads, payments and, of course, mobile, mobile, mobile.