The hidden workforce behind earnings reports - and what less reporting could mean for them

"The debate over quarterly earnings usually centers on companies and investors - but any disruption to the status quo could rattle an ecosystem full of white-collar workers plying their trade as lawyers, communications pros, and data providers. On Monday, President Donald Trump asked the SEC to investigate whether fewer earnings reports might benefit companies. "This will save money and allow managers to focus on properly running their companies," he wrote on Truth Social."

"Unlike the administration's whiplash-inducing trade policies, corporate America agrees with the president. In 2019, after Trump first asked the SEC to explore this issue, the Nasdaq found that three-quarters of the 180 companies it surveyed favored a switch to semi-annual reporting, according to the survey results posted to the SEC's website. For companies, the costs of quarterly earnings can feel steep. Preparing a single release can take weeks and pull in dozens of people across legal, accounting, and communications teams."

President Donald Trump asked the SEC to investigate whether fewer earnings reports might benefit companies, arguing it would save money and let managers focus on running firms. Many companies back a move to semi-annual reporting; a 2019 Nasdaq survey found three-quarters of 180 companies favored the switch. Preparing quarterly releases can take weeks and engage dozens of legal, accounting, and communications staff. The spending on earnings reporting supports thousands of white-collar roles, including investor-relations professionals, lawyers, PR teams, and financial-data providers. Reducing reporting frequency could lower corporate costs but put those roles at risk amid AI and economic pressure.

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