LIVE: Facebook earnings

Facebook, the world's No. 1 social network, will report its first quarter earnings after the close of market today.

Here are the key numbers that Wall Street is looking for:

• $3.56 billion in revenue, which would represent 42% growth year-over-year.
• EPS excluding special items of $0.40 cents, versus $0.34 cents in the year-ago period.

Facebook's mobile ads have proven to be a huge success, boosting the company's revenue and its share price. But investors are hungry for evidence that new money-makers such as video ads or ads on its Instagram service can deliver the next leg of growth.

Facebook has indicated that 2015 will be a year of investment as it ramps up some of these efforts as well new businesses such as the Oculus virtual reality headset business that it acquired for $2 billion last year and its twin messaging services Messenger and WhatsApp. All that spending, and the impact on profit margins, is something that investors will be paying close attention to.

We'll be updating this post as soon as the numbers cross. Refresh this page or click here.