Earnings report

An earnings report is the quarterly (or annual) release in which a public company discloses its financial results, revenue, net income, earnings per share, and usually guidance for what it expects next. It's typically paired with an earnings call, where management walks analysts through the numbers and takes questions.

The report itself matters less than the gap between it and what was already expected. Before it comes out, the stock price already reflects what analysts and investors were positioned for. The report is when that expectation gets confirmed, beaten, or missed, which is why a stock can jump or fall sharply within minutes of release even though the underlying business hasn't changed overnight. What moves the price is usually less about whether the company made money and more about whether it made more or less than the market expected, and what the guidance alongside it implies about what comes next.

"Earnings season" refers to the few weeks each quarter when most public companies report in a short window, since many share similar fiscal calendars.