Facebook Inc (FB) Beats EPS at 50c, Rev At $4.04B, Shares fallAuthor: Paul SheaLast Updated: March 12, 2020 Update 16:00 EDT: The market is now closed. Facebook shares ended the day up strongly, though still below the highs of last week.Update 1601 EDT: We know the call is on at 5 PM, so the numbers are certain to arrive before then. We don’t know when exactly they’ll come out though.Update 16:02 EDT: Facebook EPS at 50c, Rev At $4.04B, that’s ahead of estimates.Update 16:03 EDT: Shares are down after hours. It’s not clear why just yet.Update 16:04 EDT: Traders may just have been looking for something more from the firm. User numbers hit 1.49B, users on mobile hit 1.31B.Update 16:05 EDT: Mobile ad revs made up 76 percent of total.Update 16:06 EDT: Facebook shares now down 4.6 percent after hours.Update 16:08 EDT: Looks like the drop might be for the same reason Apple fell last week. People were really just looking for more.Update 16:09 EDT: Shares are now down by 5 percent. Looks like it could be a rough night for those that bought in.Update 16:14 EDT: Looks like there’s no mystery number that’s driving shares down. Wall Street analysts were looking for 47 cents, Facebook delivered 50c, it looks like traders wanted a lot more than that. Same goes for revenue. Analysts wanted $3.99B, Facebook gave them $4.04, traders sold their stock.Facebook Inc earnings are set to hit after the market closes on Wednesday July 29. The social network is thought to have had a good quarter in the three months through June, but the stock has jumped substantially in the period.Wall Street is looking for Facebook to show earnings per share of 48 cents on revenue of $3.99B. In the same three months of last year the firm earned 43 cents per share on revenue of $3.2B. We’ll have all of the numbers right here as soon as Facebook reveals them. For the time being, here’s what to look for in today’s report.Facebook grows its ad baseThe story of the three months through June is likely to be Instagram. Facebook has started to increase the ad load on the image based social app. The numbers from Instagram may be the most important in this afternoon’s release. If not important for themselves, then for what they represent for the future.If Instagram is able to be put to good use by ad makers, that will raise optimism about Mark Zuckerberg’s ability to turn his other projects into money making concerns.Messenger and WhatsApp make very little money right now, but if Instagram is able to make money, investors will believe in the firm’s ability to do just that.Video will be another point of focus for those with money in the firm this afternoon. Facebook may not have the infrastructure to make its video projects really work just yet, but the firm is expected to show a serious uptick in ad sales to video.Facebook shares look to break $100Facebook shares have risen by close to 20 percent in the last three months, and traders on Wall Street will be assuming high earnings this afternoon in order to justify the high value of the firm.Lots of Wall Street banks have put high targets on Facebook shares, and traders may be looking for the firm to beat Wall Street’s view this afternoon in order to drive shares higher. the median price target on Facebook stock on Wall Street stands at $100.Growth in Facebook is being looked for across the board, with video, social apps, and future projects in TV and music all finding their pace in recent reports. The options market has priced in a move of more than 8 percent this afternoon, showing the real pressure on Facebook heading into its big earnings reveal.