Financial statements · updated October 21, 2026
What are quarterly earnings reports and when is earnings season
Quarterly earnings reports are the three-month figures listed companies publish four times a year: sales, profit, cash and what they expect for the next period. The stretch when most large companies report is called earnings season, and it starts a few weeks after each quarter ends.
How it works
US companies publish a quarterly report (form 10-Q) for the first three quarters and the annual report (10-K) for the fourth. Many European companies publish quarterly updates too. Earnings season starts about two to three weeks after the quarter ends (mid January, April, July and October), with the big US banks among the first. Along with the numbers, many companies hold a call with analysts where management answers questions.
Worked example
A quarter ends on 30 September. The big US banks report in the second week of October, and the big tech companies toward the end of the month.
During those few weeks, prices can move a lot, because the market compares the numbers with analysts' estimates.
Worth knowing
Three things matter: the numbers against analysts' estimates, the numbers against the same quarter last year, and what the company says about the quarters ahead (guidance).
When quarterly earnings can fool you
Prices also move on outlook: a company can beat estimates and still fall if it signals a weaker future. Seasonal quarters: a retailer sells more at Christmas; compare with the same quarter last year. Reporting time: many US companies report before the market opens or after it closes, so the big move happens in extended-hours trading.
Related terms
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Questions about quarterly earnings
Where can I see when a company reports?
The date usually appears on the company's investor relations site a few weeks ahead. On our stock pages you can see the date of the next report.
Why does the price move so much on earnings day?
Because in a few minutes new information comes out on sales, profit and outlook, and investors redo their sums all at the same time.
These explanations are for information only. They are not a recommendation to buy or sell.
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