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Trading Facebook's First-Quarter Earnings for a Nice Pop — Plus Jim Cramer's Take

If you're gun-shy about holding Facebook (FB - Get Report) shares through its earnings results, which are due after the market close Wednesday, you should be. But if timed correctly, it could be a profitable trade.

For the quarter that ended in March, Wall Street expects Facebook to deliver earnings per share of 62 cents on revenue of $5.25 billion, translating to year-over-year growth of 47% and 48.5%, respectively. Expectations are indeed high.

Facebook is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Cramer and Research Director Jack Mohr wrote of Facebook in their weekly roundup Friday that "we recognize that despite some of the speculative commentary in recent weeks, FB stock is trading close to all-time highs and expectations remain very high. While we are very confident in the company in its ability to deliver over the short and long terms, the setup is a difficult one, especially given the weaker tech...