I heard a lot of unqualified opinions on where FB will go after the earnings today. To understand what FB may report, you need to look at the similar companies to get an idea. Both GOOG and BIDU reported pretty handsome earnings and get rewarded handsomely. FB is in the same line of business. As a matter of fact, one would argue that companies are spending more with FB than GOOG or BIDU. I would actually take GOOG's earnings since BIDU is heavily concentrated on China. Based on that, FB should have no problems making and beating the estimates. Also, remember that the last quarter was the first good quarter since FB went public. Also, we need not fear secondary from FB. They are already flushed money. More importantly, it does not make sense for a secondary given the current stock price. In summary, I am actually expecting a blow-out quarter from FB. In terms of the forward guidance, Instagram will start playing favorably with FB's earnings as well. All in all, hang in there. I think we will be fine [if you are long...that is].