Stocks to Watch: Facebook, Qualcomm, MasterCard

NEW YORK -- Facebook's(FB) fourth-quarter earnings topped Wall Street expectations as revenue jumped 40%.

The social-networking giant said Wednesday it earned a non-GAAP 17 cents a share in the quarter on revenue of $1.585 billion in revenue. Revenue from advertising rose 41% to $1.33 billion, making up 84% of total revenue. Mobile revenue represented 23% of advertising revenue in the fourth quarter, up from 14% in the third quarter.

Analysts polled by Thomson Reuters were expecting Facebook to earn 15 cents a share on sales of $1.53 billion in the fourth quarter.

"In 2012, we connected over a billion people and became a mobile company," said Mark Zuckerberg, Facebook founder and CEO. "We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company."

Facebook shares moved lower in extended trading as mobile revenue came in shy of many analysts' lofty estimates.

Facebook's CFO: 'We Became a Mobile Company in 2012'

Qualcomm(QCOM) , the chipmaker, blew past Wall Street's fiscal first-quarter estimates and offered robust second-quarter guidance.

The San Diego-based company reported revenue of $6.02 billion, a 29% increase from a year earlier and well above analysts' forecasts of $5.9 billion.

Excluding items, Qualcomm earned $1.26 a share, a rise of 30%. Analysts were looking for earnings of $1.13 a share.

Qualcomm is projecting fiscal second-quarter revenue between $5.8 billion and $6.3 billion and earnings between $1.10 a share and $1.18 a share. Analysts forecast revenue of $5.88 billion and earnings of $1.10 a share.

Qualcomm's Shares Surge as Business Goes Gangbusters

MasterCard(MA) is expected by analysts Thursday to report fourth-quarter earnings of $4.82 a share on revenue of $1.89 billion.

Media giant Viacom(VIAB) is expected by Wall Street to have earned 90 cents a share in the fiscal first quarter on revenue of $3.49 billion.