Welcome to TheStreet's live blog of Facebook's third-quarter earnings and conference call. Eric Jhonsa, TheStreet's tech columnist, and Jack Mohr, research director for Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio, which owns Facebook, will be participating. Facebook's results are expected shortly after the market close, and its call with analysts will start at 5 P.M. Eastern Time.
Consensus analyst estimates call for Facebook to post Q3 revenue of $6.92 billion (up 54% annually) and EPS of $0.97, according to FactSet. But expectations are high following a string of earnings beats that have led Facebook's market cap to soar to more than $350 billion. Improved monetization of Facebook's core news feed has been the company's biggest growth driver, with Instagram's ad growth playing a contributing role.