Donald Trump calls for US companies to report financials biannually

Former President Donald Trump has called for U.S. companies to discontinue quarterly financial reporting. In a post on his Truth Social network on Monday, Trump suggested that companies should instead report their financial results biannually, stating that this change would save money and allow executives to concentrate on managing their businesses.

Trump emphasized the contrast between the U.S. practice of quarterly reporting and what he described as China"s long-term approach to company management. He stated, “Subject to SEC Approval, Companies and Corporations should no longer be forced to ‘Report’ on a quarterly basis . . . but rather to Report on a ‘Six (6) Month Basis.’” He added, “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!!!”

Ann Lipton, a law professor at the University of Colorado, commented that less frequent reporting could give more power to corporate insiders while depriving investors, analysts, and regulators of important information about the overall economic direction.

Quarterly results are significant for U.S. investors, as they include unaudited financial results and corporate information. These reports are critical because companies must disclose any material issues during these periods, often revealing government investigations and other legal matters.

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Some markets, including the European Union and Singapore, have already moved away from mandatory quarterly reporting, with many companies opting for semi-annual disclosures. Quarterly results are closely monitored on Wall Street to evaluate individual company performance and assess the broader corporate landscape in the U.S.

For related coverage, see recent developments on Trump"s economic proposals.