Matt Rourke / AP File Photo

Later today, Facebook will post its earnings for the first quarter of 2017, and expectations are mixed.

Controversies: Facebook's been grappling with the rise of "fake news" and graphic violence on its Facebook Live platform, but the controversies are unlikely to affect the company's ad business. Similarly to Google, whose revenue has been unaffected by advertiser backlash over its programmatic ads ending up on inappropriate videos, Facebook has been actively working to smooth over its image.

The bad news: Facebook's revenue growth is expected to start slowing down. The company warned us last year that it is running out of space in its service to put more adds. To be clear, Facebook's revenue will be greater than a year ago, but the growth will be slower. What's more, it historically sees a big bump in revenue in the fourth quarter, followed by a drop in revenue the following, so expect to see that again.

The better news: Though Facebook doesn't break out Instagram's numbers, the photo-sharing app has had a huge success with its take on Snapchat's Stories feature and is on the upswing. Facebook also has yet to roll out its mid-roll video ads, so it's not fully monetizing its video content yet. When it does, that should help boost its revenue.

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Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 30,241,377 — Total deaths: 947,266— Total recoveries: 20,575,416Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 6,681,251 — Total deaths: 197,763 — Total recoveries: 2,540,334 — Total tests: 91,546,598Map.
  3. Politics: Trump vs. his own administration on virus response.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.
2 hours ago - Economy & Business

Anxious days for airline workers as mass layoffs loom

Sara Nelson, president of the Association of Flight Attendants, during a Sept. 9 protest outside the Capitol. Photo: Alex Wong/Getty Images

The clock is ticking for tens of thousands of anxious airline employees, who face mass reductions when the government's current payroll support program expires on Sept. 30.

Where it stands: Airline CEOs met Thursday with White House Chief of Staff Mark Meadows, who said President Trump would support an additional $25 billion from Congress to extend the current aid package through next March.

House Democrats ask DOJ watchdog to probe Durham's Trump-Russia investigation

Attorney General Bill Barr. Photo: Kamil Krzaczynsky/AFP via Getty Images

Four Democratic House committee chairs on Friday asked the Justice Department's inspector general to launch an "emergency investigation" into whether Attorney General Bill Barr and U.S. Attorney John Durham, his appointee, are taking actions that could "improperly influence the upcoming presidential election."

Catch up quick: Last year, Barr tapped Durham to conduct a sweeping investigation into the origins of the FBI's 2016 Russia probe, after he and President Trump claimed that it was unjustified and a "hoax."