Facebook is about to report its Q1 earnings

Facebook is expected to grow its revenue by 42% to $7.83 billion when it reports first-quarter earnings after the close of market on Wednesday.

All eyes are on what Facebook has cautioned to be a "meaningful" slowdown in revenue growth this year as it reaches the limit of the amount of ads it can show in the News Feed. Luckily, the company is starting to ramp up with Instagram and video ads, which Wall Street sees as two key growth drivers moving forward.

Here are the expected numbers for Facebook's Q1 earnings:

• EPS (adjusted): $1.12, up 45% from the year-ago period.
• Revenue: $7.83 billion, up 42% from the year-ago period.

We'll be updating this post with the Q1 results as soon as they come out, so click here to get the latest details.

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