$FB Way Underestimates Q1 Results and May Now Have an Earnings Upside Surprise

“Remember the selective disclosure problem before Facebook’s IPO?

That was when Facebook cut its earnings outlook during the IPO roadshow but only told big institutional investors about it. (Specifically, Facebook told the stock analysts at its IPO underwriters, who then cut their “estimates” and verbally told their big clients about this–leaving everyone else in the dark).”

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