President Trump is reviving a push to end the decades-old tradition of quarterly earnings reports. Once every six months is a much better idea, he wrote on Truth Social. Trump argued that less frequent reporting would save public companies money and free up executives to focus on the fundamentals of running their business, reports the Wall Street Journal.
"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???'" Trump wrote, per CNBC. "Not good!!!" Trump also floated the idea during his first presidency, though nothing came of it. The notion has found support from influential business figures, including JPMorgan Chase's Jamie Dimon and investor Warren Buffett, who previously contended that pressure to meet quarterly expectations leads companies to dial back on investments and hiring.
The conversation resurfaced last week when the Long-Term Stock Exchange said it would petition the SEC to make quarterly reporting optional, following a positive meeting with agency officials. The SEC, currently seen as open to easing certain regulations, typically circulates such proposals for public comment before any changes are implemented. The shift would put the US in sync with rules in the UK and several other European nations, notes Reuters. However, CNBC suggests Trump appears to be off on his China comparison: Companies there must file quarterly, semiannual, and annual reports.
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