Earnings
Quarterly results, guidance, and the numbers behind the headlines.
The Expectations Game: Why Beating Earnings Estimates No Longer Moves Stocks
Stocks drop after beating earnings because the market trades on whisper numbers, forward guidance, and growth deceleration — not the published consensus. This guide explains the multi-layered expectations game.
Decoding Adjusted EBITDA: The Illusion of Non-GAAP Earnings
Adjusted EBITDA excludes real costs like stock-based compensation and recurring "one-time" charges to present inflated earnings. This guide teaches investors to read the GAAP reconciliation and identify misleading non-GAAP adjustments.
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