This study explores mandatory increases in financial reporting frequency in the U.S. over the period of 1954 to 1972 to examine the effect of reporting frequency on investor myopic pricing of future earnings. Our difference-in-differences analyses show that the reporting frequency increases are associated with an increase (a decrease) in the weight investors put on long-term (short-term) earnings, and a decrease in the profitability of trading strategies designed to exploit myopic pricing of earnings. These findings are consistent with more frequent reporting mitigating investor myopia by conveying more information about future earnings. Further, we find that firms issue more shortterm earnings guidance after increasing reporting frequency, but the increased short-term earnings guidance has little effect on investor myopia.