[WASHINGTON] President Donald Trump said companies should not be forced to deliver earnings reports on a quarterly basis, saying he preferred a six-month schedule he cast as saving businesses time and money.
“Subject to SEC Approval, Companies and Corporations should no longer be forced to “Report” on a quarterly basis (Quarterly Reporting!), but rather to Report on a ‘Six (6) Month Basis,’” Trump said in a social-media post on Monday (Sep 15), referencing the Securities and Exchange Commission. “This will save money, and allow managers to focus on properly running their companies.”
Trump compared the US reporting process with China, suggesting that Beijing had a system in place that was more efficient and cost-effective for businesses in that country.
Trump in his first White House term also floated having companies change their quarterly reporting to a six-month schedule. BLOOMBERG
