Quarterly Earnings Releases

A quarterly earnings release is a company-issued summary that highlights financial results for a three-month period. Issued as a press release (not a required SEC filing), it summarizes revenue, profits, earnings per share (EPS), and often includes management commentary and outlooks intended for shareholders, analysts, and investors.

Key takeaways

• Public companies commonly publish quarterly earnings releases to communicate recent performance.
• Releases typically include revenue, net income, EPS, and management discussion; some include financial statements, ratios, and graphics.
• Analysts use releases to spot trends and compare results to expectations; meeting or missing estimates can strongly move a stock’s price.
• The quarterly earnings release is distinct from the Form 10-Q, which is the formal SEC filing and more detailed.

What a release contains

Quarterly earnings releases vary by company, but commonly include:
* Management discussion and analysis of performance for the quarter.
* Key figures: revenue, net income (or loss), and EPS (basic and diluted).
* Financial statements or selected line items from the income statement, balance sheet, and cash flow statement.
* Analyst metrics and ratios (gross margin, operating margin, free cash flow, etc.).
* Guidance or outlook for upcoming quarters or the fiscal year.
* Visuals such as tables and charts to summarize results.

Because releases are optional, companies choose their own format and level of detail.

How it differs from Form 10-Q

• Earnings release: voluntary, concise summary for the market and investors; published as a press release.
• Form 10-Q: required filing with the SEC that provides comprehensive financial statements, footnotes, and disclosures. The release often appears before the 10-Q.

Market impact

Quarterly releases are closely watched and can trigger significant stock-price moves—especially for widely followed large-cap companies. Market reactions depend less on absolute performance and more on how results compare with analysts’ estimates and the company’s guidance. Expectations are a central driver because markets tend to price in anticipated results in advance.

Timing

Earnings season typically begins one to two weeks after the end of a calendar quarter. Companies on non-calendar fiscal years publish after their fiscal quarter ends. Exact announcement dates and times are usually posted on a company’s investor relations page.

Where to find releases

Companies publish releases on the investor relations section of their websites. Financial news services and market-data platforms also aggregate earnings releases and schedules.

How investors and analysts use releases

• Verify actual performance versus guidance and consensus estimates.
• Identify trends by comparing current and prior quarterly releases.
• Assess management commentary and forward guidance for future expectations.
• Use provided metrics and statements to update valuation models and investment decisions.

Bottom line

Quarterly earnings releases are a primary, timely source of a company’s short-term financial performance and outlook. Investors and analysts rely on them to assess health, set expectations, and react to surprises—making these releases a key driver of short-term stock-market movement.