Facebook Inc. will announce results for the first quarter of its fiscal 2014 today and is expected to post $2.36 billion in revenues with an EPS of 24 cents Facebook Inc. (FB) is set to report results for the first quarter of its fiscal year 2014 (1QFY14) after markets close today. It is expected that the company will beat analysts’ estimates for earnings and revenues. There are several factors to consider before the earnings announcement given that the company is leading the social media space. Over the last one month, Facebook has shed more than 6% of its value primarily due to the sell-off in momentum stocks. However, on a year-to-date basis, the stock price is up nearly 17%. Revenues and Earnings Estimates Facebook reported revenues of $2.59 billion in the last quarter of 2013, reflecting a 63.1% year-over-year (YoY) increase driven by stellar growth in mobile ad sales. For the current quarter, analysts estimate revenues of $2.36 billion, an increase of 61.6% YoY. Furthermore, earnings per share (EPS) are estimated to come in at 24 cents, an increase of nearly 99% YoY. Facebook's revenues and growth from mobile will be the most sought after metrics during the earnings release. Last quarter, the company generated nearly 53% of its advertisement revenues from mobile. Total advertising revenues were $2.34 billion in 4QFY13, reflecting a 76% YoY increase. Historically, first quarter ad revenues declined quarter-over-quarter (QoQ), and we expect the trend to continue this quarter. According to consensus estimates, ad revenues are expected to come in at $2.14 billion, a 71% YoY growth and a 9% QoQ decline. Mobile ad revenues are estimated to come in at $1.22 billion, a 2% QoQ fall.