Corporate actions
Earnings surprise
The gap between reported earnings and what analysts expected.
How it works
Positive surprises tend to be followed by continued drift in the same direction over subsequent weeks — the post-earnings-announcement drift, one of the longest-documented anomalies in finance.
Related terms
- Consensus estimateThe average of analysts’ forecasts for a company’s revenue or earnings.
- Earnings announcementA company’s scheduled publication of its financial results for a quarter or year.
- Earnings revisionAnalysts changing their forecasts for a company’s future earnings.
- MomentumThe tendency of recent winners to keep outperforming, and losers to keep underperforming, over months.
Mentioned in
More in Corporate actions
- Ex-dividend date
- Guidance
- IPO
- Dividend yield
- Lock-up period
- Dividend reinvestment
- Merger and acquisition
- Dividend cut
All 26 Corporate actions terms · The full glossary, 433 terms
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