Facebook hopes to rewrite its sad financial narrative with strong Q2

Facebook will try to turn its story around today. In its first earnings report as a public company, it will use a positive second-quarter earnings statement as a way to craft an uplifting tale. Investors, however, may have trouble seeing the story as anything but a work of fiction.

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The severe Facebook revenue revisions that sent investors running

In the convoluted case of the botched Facebook IPO, the story goes that the social network’s underwriters, with guidance from a Facebook executive, reduced their 2012 earnings estimates, shared that material information with a few, preferred investors, and let institutional and retail investors take the hit as Facebook’s stock value tanked.

Could Pinterest already be worth $500M?

Digital pin-board site Pinterest is scorching hot. People are pinning like crazy. Publishers are benefiting from an uptick in Pinterest-driven traffic. And venture capitalists are tripping over themselves to get a piece of the social property.