Comment by skissane
11 hours ago
Releasing data at regular intervals gives people time to review the data, identify mistakes and rectify them. Releasing financial data daily, you are much more likely to release incorrect info and then have to go back and correct it.
For certain types of firms, daily revenue figures are likely to reveal individual deals. Many B2B firms have a modest number of high value deals, a daily data feed might show $0 revenue one day $1.374 million the next, which is more likely a single deal of that size than two or more smaller deals-and that would reveal a lot to competitors-especially if those competitors are in other jurisdictions which haven’t mandated this form of extreme transparency
> Releasing financial data daily, you are much more likely to release incorrect info and then have to go back and correct it.
Why do you need to "go back"? The corrected data would be available the very next day (or month (or week or fortnight) if you don't want to go to that extreme).
If you publicly release incorrect financial results, there is a formal process you have to follow to notify the public that you made an error (“restating results”). But if you catch the error before you release the results, you get to skip all that. Make people release results daily, they’d be restating past results all the time, because they wouldn’t have time to catch errors prior to release.