Why do these giants have different schedules for their quarterly earnings reports? A comprehensive guide to querying and analysis tips

For investors关注ing US stocks, the earnings report release time often determines the trading rhythm. But have you noticed why major companies like Apple, Microsoft, and Tesla have such different earnings report release schedules? What logic is behind this? This article will take you deep into the world of US stock earnings reports.

Why do earnings reports for the same year have such varied release times?

The key lies in the concept of fiscal year.

Not all US-listed companies use the calendar year (January 1 to December 31) as their accounting year. Companies can freely choose their fiscal year start and end dates based on their business cycles. For example:

• Apple Inc. (AAPL): Fiscal year ends on September 24, with the first quarter starting on September 26
• Microsoft (MSFT): Fiscal year ends on June 30, with the first quarter starting on July 1

This leads to an interesting phenomenon—companies reporting their 2022 fiscal year annual reports may do so at different times: Nike reports at the end of June, Costco at the end of September, and Tesla only at the end of January.

Is there a pattern to earnings report releases?

Yes. According to the requirements of the U.S. SEC (Securities and Exchange Commission):

• Quarterly reports: submitted within 40–45 days after the quarter ends
• Annual reports: submitted within 60–90 days after the fiscal year ends

This means that, about 1–2 weeks after each quarter ends, companies tend to release their earnings reports in a concentrated period. Every year, after March, June, September, and December, you’ll see a surge in earnings report releases.

How to quickly find out a company’s earnings report release schedule?

First tip: Company’s Investor Relations website

Search for “Company Name + Investor Relations,” and visit the official page to see detailed earnings release schedules.

Second tip: Professional financial websites

• Yahoo Finance
• Nasdaq official site
• Yingwei Finance
• SeekingAlpha

These platforms have earnings calendar features that provide an overview of each company’s earnings release dates throughout the year.

Third tip: Directly check SEC’s website

1. Visit sec.gov
2. Enter the company’s stock ticker or name in the EDGAR database’s Filings section
3. Select 10-K (annual report) or 10-Q (quarterly report) to view filings

Important earnings report document codes you should know

• 10K: US company annual report
• 20F: Foreign company annual report
• 10Q: US company quarterly report
• 6K: Foreign company material event disclosures
• 8K: US company material event disclosures

Note: Foreign companies (like TSMC) are not required to disclose quarterly reports in the US; they only need to disclose annual reports and major events.

Major companies’ 2022 earnings report release times compared

From the table below, you can see that although they all report for the 2022 fiscal year, the release times span over half a year. This reflects each company’s different financial cycle strategies:

Interestingly, the tech giants have the widest range of release times—from Adobe in November, Broadcom in December, Intel and Meta in January, to Nvidia in February.

What should beginners look for in earnings reports?

Although earnings reports are complex, their core content boils down to four main parts:

1. Business Overview (Item 1)

How the company makes money, its business structure, and new strategies. Essential reading for investors unfamiliar with the company.

2. Risk Factors (Item 1A & Item 7A)

Company-specific and macro risks. Exchange rate risks, policy risks, competition risks—all are here. Often, risk disclosures are more worth paying attention to than highlights.

3. Management’s Analysis (Item 7)

Management interprets the quarterly/yearly financials, compares with historical data, explains the reasons for changes, and provides future outlooks. This is a window into the company’s true condition.

4. The Three Major Financial Statements

• Income Statement: Revenue, profit, net income
• Balance Sheet: Cash, assets, liabilities, shareholders’ equity
• Cash Flow Statement: Where the money comes from and goes

These three sheets together form the full picture of a company’s financial health.

GAAP vs Non-GAAP: Why do the same company’s figures differ so much?

Companies often release two sets of data:

• GAAP figures: Calculated according to US Generally Accepted Accounting Principles, the official standard
• Non-GAAP figures: Adjusted by the company for better presentation

Many news outlets only report Non-GAAP figures, making it seem like the company performs better. But the reality is often hidden in the differences between GAAP and Non-GAAP data. When reading earnings reports, always look at both.

Practical significance of understanding earnings report release times

Knowing a company’s earnings report release schedule is more than just knowledge—it has practical value:

• Plan trading strategies in advance; volatility is often highest around earnings releases
• Benchmark against peers to understand relative competitiveness
• Track management’s expectations to predict stock movements
• Detect financial anomalies and identify investment risks

Every earnings release is an opportunity to reassess the company. Investors who can quickly interpret earnings reports and extract key insights often gain an edge.