From the course: Financial Modeling and Forecasting Financial Statements
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Use financial forecasts to understand new information
From the course: Financial Modeling and Forecasting Financial Statements
Use financial forecasts to understand new information
- As of 2019, there are about 4,000 companies with shares traded on US Stock Exchanges. These companies fall under the jurisdiction of the Securities and Exchange Commission, the SEC, and are required to publicly release financial reports every quarter. So each year, the SEC receives 16,000 financial report filings. 4,000 companies times four reports per year. These filings are typically preceded by a public press release of the company's net income. Now with about 250 business days each year, that means that the average business day contains about 65 net income press releases. 16,000 press releases divided by 250 business days. 65 earnings announcements on an average day. And earnings announcements cluster during certain periods such as a few weeks after the end of a quarter. On those clustering days, there can be several hundred public corporate earnings announcements. So how long does it take for financial analysts…
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