Facebook is scheduled to report its fourth quarter and full year results on Wednesday, January 27. The company’s stock has largely mirrored the S&P 500 in 2016 and is down close to 7% year to date, but its continued premium valuation (trailing P/E of 98 and price-to-sales ratio of 16.7) reaffirms the market’s high expectations for the company. In its fourth quarter results, we expect the company to report revenue growth of around 40% year over year (y-o-y) and meet consensus estimates of $5.36 billion, driven by advertising revenue growth.

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