Donald Trump is pushing the Securities and Exchange Commission (SEC) to eliminate quarterly corporate earnings reports, proposing instead a six-month reporting cycle.
What Happened: Trump took to his Truth Social on Monday to argue that the current quarterly reporting system is detrimental to U.S. companies. He said the shift would save costs and free executives to focus on long-term growth, Trump contrasted U.S. short-term practices with China’s “50 to 100 year” business outlook, calling the current system “not good.”
“This will save money, and allow managers to focus on properly running their companies,” wrote Trump.
Why It Matters: It would represent a major shift in how American companies operate, bringing their reporting practices more in line with those of public companies in Europe. Notably, listed companies in some of the Asian countries also report their results on a six-monthly or semi-annual basis.
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