A quarterly earnings report is the Form 10-Q that a publicly-held firm files with the Securities and Exchange Commission on a quarterly basis. This report contains the financial statements that reveal the revenues, expenses, profit or loss, and cash flows for the past quarter, as well as a balance sheet as of the end of the quarter. This report contains many of the topics listed in an annual report, thereby providing a detailed view of a company's operational results and financial position. Besides the financial statements, a quarterly earnings report contains management's discussion of events that occurred during the quarter, as well as a number of mandatory disclosures.
Investors typically examine the results reported in a quarterly report to the trend line of prior results, which may result in decisions to buy or sell a company's shares. Thus, the issuance of a quarterly report is keenly anticipated by investors.
The quarterly financial statements are reviewed by auditors, which is a reduced examination from the full audit procedures applied to the year-end results of a business.