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Core Viewpoint - The debate on the frequency of corporate earnings reporting in the US has resurfaced, with President Trump advocating for semi-annual reporting instead of quarterly, citing potential cost savings and improved management focus [1][7]. Group 1: Reporting Frequency Comparison - US companies are mandated to report earnings quarterly, while most international companies only require semi-annual filings [3][7]. - In a universe of 11,000 global equities, only 13% report twice a year, with 62% being North American companies, and only 1% of those are North American companies [4]. Group 2: UK Case Study - The UK transitioned from semi-annual reporting to quarterly reporting between 2007 and 2014, before reverting back to semi-annual reporting [5]. Group 3: Pros of Semiannual Reporting - Advocates argue that semi-annual reporting could reduce "short-termism" and allow companies to focus on long-term strategies [9]. - It is believed that less frequent reporting could revive IPO markets, as the current rigorous SEC requirements deter companies from going public; the number of publicly traded companies in the US has decreased by 17% over three years and nearly 50% since 1997 [10]. Group 4: Cons of Semiannual Reporting - Critics highlight that less frequent earnings reports could lead to reduced transparency and insights into company performance, which are crucial for investors and analysts [11]. - There are concerns that semi-annual reporting could increase opportunities for illegal activities within corporations due to fewer checkpoints for scrutiny [12]. Group 5: Fundamental Debate - The core of the debate revolves around whether public markets should prioritize transparency and up-to-date information for investors or create an environment that allows companies to focus on long-term growth without short-term pressures [13].