That is a pretty ignorant statement given that earning forecasts are always provided by the company and all Wall St. analysts do (independently from the underwriters) is check market assumptions, company's share of market, cost structure, etc.
Financial guidance, specially at the Net Income level, is ALWAYS the company's call. Who pushed for Facebook's $104bn valuation was current FB shareholders (Accel, DST, etc.), not the underwriters. Do not be that ignorant.
Financial guidance, specially at the Net Income level, is ALWAYS the company's call. Who pushed for Facebook's $104bn valuation was current FB shareholders (Accel, DST, etc.), not the underwriters. Do not be that ignorant.