U.S. President Donald Trump has said in a Truth Social post on Monday that companies should not be compelled to follow the common practice of quarterly reporting and report semiannually instead.
“Subject to SEC Approval, Companies and Corporations should no longer be forced to “Report” on a quarterly basis (Quarterly Reporting!), but rather to Report on a “Six (6) Month Basis.” This will save money, and allow managers to focus on properly running their companies. Did you ever hear the statement that, “China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis???” Not good!!!,” said Trump on Truth Social.
Quarterly reporting for firms was made a mandatory practice by the SEC in 1970. Before that, companies were able to report semi-annually if they preferred.
The official 10-Q form used today by all U.S. companies has set a firm standard where companies are required to hand in earnings reports every three months,i.e., a fiscal quarter.