Donald Trump floats cutting quarterly earnings reports, says SEC should consider 6-month system
Under current rules, US companies must report earnings quarterly, though giving forecasts is optional. Changes could come from the Securities and Exchange Commission (SEC) or Congress.
- Sep 15, 2025,
- Updated Sep 15, 2025 7:23 PM IST
US President Donald Trump on September 15 suggested companies should move away from quarterly earnings reports and instead file them every six months.
In a Truth Social post, Trump said the idea is “subject to SEC approval” and would “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!!!’” he said.
The value of quarterly reporting has long been debated. In a 2018 Wall Street Journal op-ed, Berkshire Hathaway’s Warren Buffett and JPMorgan Chase CEO Jamie Dimon argued against quarterly guidance, saying it encourages “an unhealthy focus on short-term profits at the expense of long-term strategy, growth and sustainability.”
Under current rules, US companies must report earnings quarterly, though giving forecasts is optional. Changes could come from the Securities and Exchange Commission (SEC) or Congress.
Supporters of the existing framework say frequent reporting ensures transparency and gives investors timely insights.
Despite Trump’s remarks, companies in China face comparable or stricter requirements, with quarterly, semiannual, and annual filings. Hong Kong-listed firms, however, report only twice a year.
Trump’s suggestion would align more closely with the UK and European Union, where semiannual reporting is standard but quarterly updates remain optional. Norway’s sovereign wealth fund made a similar case earlier this year, arguing fewer reports would help businesses prioritize long-term goals.
Debate on quarterly forecasts
In a 2018 op-ed for The Wall Street Journal, Warren Buffett and Jamie Dimon called for an end to quarterly earnings guidance, warning that it encourages companies to prioritise short-term profits over long-term strategy and growth.
The Berkshire Hathaway chairman and JPMorgan Chase CEO argued that the pressure to meet short-term targets can lead to decision-making that undermines sustainability and investor value in the long run. While they supported continued quarterly reporting for transparency, they urged companies to stop issuing forecasts that, in their view, distort executive focus and misalign priorities.
US President Donald Trump on September 15 suggested companies should move away from quarterly earnings reports and instead file them every six months.
In a Truth Social post, Trump said the idea is “subject to SEC approval” and would “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!!!’” he said.
The value of quarterly reporting has long been debated. In a 2018 Wall Street Journal op-ed, Berkshire Hathaway’s Warren Buffett and JPMorgan Chase CEO Jamie Dimon argued against quarterly guidance, saying it encourages “an unhealthy focus on short-term profits at the expense of long-term strategy, growth and sustainability.”
Under current rules, US companies must report earnings quarterly, though giving forecasts is optional. Changes could come from the Securities and Exchange Commission (SEC) or Congress.
Supporters of the existing framework say frequent reporting ensures transparency and gives investors timely insights.
Despite Trump’s remarks, companies in China face comparable or stricter requirements, with quarterly, semiannual, and annual filings. Hong Kong-listed firms, however, report only twice a year.
Trump’s suggestion would align more closely with the UK and European Union, where semiannual reporting is standard but quarterly updates remain optional. Norway’s sovereign wealth fund made a similar case earlier this year, arguing fewer reports would help businesses prioritize long-term goals.
Debate on quarterly forecasts
In a 2018 op-ed for The Wall Street Journal, Warren Buffett and Jamie Dimon called for an end to quarterly earnings guidance, warning that it encourages companies to prioritise short-term profits over long-term strategy and growth.
The Berkshire Hathaway chairman and JPMorgan Chase CEO argued that the pressure to meet short-term targets can lead to decision-making that undermines sustainability and investor value in the long run. While they supported continued quarterly reporting for transparency, they urged companies to stop issuing forecasts that, in their view, distort executive focus and misalign priorities.