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Tech stocks: Facebook, Yelp to report earnings

It’s a big day for earnings in the tech sector. Let’s look at the stocks to watch for Wednesday.

How will Facebook perform? Shares of the social network are up 1% in pre-market trading as they prepare to report first-quarter financial results this afternoon.

Today’s report should offer more details into how well Facebook is managing the shift to mobile. Last quarter, Facebook revealed 23% of its revenue was generated through mobile products, missing analyst estimates. However, the company did report a 41% boost in total fourth-quarter revenue from a year ago.

Facebook may also share information on the success of its Home product, available pre-loaded on the HTC First smartphone and on other Android devices as a downloadable app.

Facebook Home is a special user interface that gives the social network more prominence. Features include a Cover Feed with scrollable status updates and Chat Heads for talking with friends via Facebook or text message.

Yelp to report earnings. Meanwhile, the online recommendation service’s stock is up a half-percent ahead of its first-quarter earnings report.

Last quarter, Yelp cut its quarterly losses while adding more monthly unique visitors and reviews. However, the company’s continued push into mobile and growth internationally will be watched closely.


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Mystic Maggie

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