LIVE: Facebook Earnings!

Facebook earnings are going to be out shortly.

We'll have the numbers as soon as possible. We are updating this post as we go, so just refresh for the latest, or click here.

Last quarter, the company crushed expectations when Facebook announced 61% revenue growth of almost $3 billion.

This quarter, Wall Street's still expecting great things from the company, even though Facebook has warned its growth could slow.

Analysts are look for $0.40 earnings per share on revenue of $3.12 billion for this quarter. They're expecting 66% of revenue to be mobile, and for Facebook to have 1.35 billion monthly active users.

Facebook's mobile advertising growth continues to be a story. It increased from $0 in 2012 to more than 60% of Facebook's entire advertising revenue today, and investors are closely watching the desktop-mobile advertising split. But Facebook seems to be in a good position; right now, advertising demand still outstrips Facebook's supply, and Facebook has a few more advertising channels it can supply.

Facebook's video growth is also something to keep an eye on. Facebook saw video views grow 50% from May to July; its growth was only aided by the very viral Ice Bucket Challenge campaign, which even had Sheryl Sandberg and Mark Zuckerberg pouring gallons of freezing water on their heads. When Facebook opens up video advertising campaigns to the masses, it could be a huge new revenue stream.

Facebook is also experimenting with many mobile apps, and its been feeding more ads into Instagram, which has now eclipsed Twitter in turns of monthly active users.