Facebook Earnings Preview: Top-Line Growth May Slow Down, But Long-Term Outlook Is Strong

The company's top-line growth is expected to slow down in Q4 due to tougher year-over-year comparisons; in addition, its GAAP margins are expected to come in lower due to a rise in stock-based compensation expenses. We expect fourth quarter earnings to be driven by rise in mobile monetization, improvement in ad products, and growth in the number of marketers on the platform.