While nature offers four seasons, Wall Street offers only one – four times a year. It’s called “earnings season,” and it can move the markets. 那么，什么是盈利季，为什么它很重要?
Earnings season is the month of the year that follows each calendar quarter-end month (i.e.， 1月、4月、7月和10月). It is the time during which many public companies release quarterly earnings reports. Some public companies report earnings at other times during the year, but many are reported on the calendar year that ends December 31.
理解收入的重要性, we need to remember that the value of a company can be tied to the amount of money it earns. 一些公司没有盈利, and they are valued based on their potential rather than their current earnings.1
Wall Street analysts maintain a close pulse on a company’s quarterly report to help estimate future earnings. 例如, these estimates may guide investors in determining an appropriate price for a company’s stock.2 还记得, 虽然, a company is not permitted to discuss interim earnings with select individuals; earnings reports must be disseminated publicly to level the playing field for all investors.
When an earnings report is released, it tells the market two things.
第一个, it offers an insight into how the company is performing and what its prospects may look like over the near term.2
And second, the report can serve as a bellwether for similar companies that still have not reported. 例如, 如果一家领先的零售商盈利强劲, it may offer an insight into the earnings of other retailers as well as other companies that similarly benefit from higher consumer spending.
Earnings reports are generally released when the market is closed in order to provide market participants adequate time to digest the results. 收益报告可能会影响市场. If earnings diverge from the expectations of professional investors and traders, 然后价格的波动——上升或下降——可能会很大. Such a divergence is referred to as an “earnings surprise.”
If you are a “buy-and-hold” investor and feel confident in a company’s long-term prospects, 收益季节对你来说可能没什么意义, since short-term results may not impact your long-term outlook. 然而, earnings reports can be meaningful if an earnings shortfall reflects a structural problem within a business or represents the continuation of a downward trend in earnings.
1. 过去的表现不能保证未来的结果. Keep in mind that the return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.
2. This is a hypothetical example used for illustrative purposes only. It is not representative of any specific investment or combination of investments.
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