First Call

DEFINITION of 'First Call'

A company that gathers research notes and earnings estimates from brokerage analysts. The estimate is compared to the actual reported earnings, and then the difference between the two is the earnings surprise.

BREAKING DOWN 'First Call'

The First Call estimate is often quoted by the financial media for its consensus estimate of a company's earnings.

The other main player in the estimates game is Zacks.

RELATED TERMS
  1. Earnings Estimate

    An analyst's estimate for a company's future quarterly or annual ...
  2. Consensus Estimate

    A figure based on the combined estimates of the analysts covering ...
  3. Forward Price To Earnings - Forward ...

    A measure of the price-to-earnings ratio (P/E) using forecasted ...
  4. Forward Earnings

    A company's forecasted, or estimated, earnings made by analysts ...
  5. Institutional Brokers' Estimate ...

    A system that gathers and compiles the different estimates made ...
  6. Earnings Call

    A conference call between the management of a public company, ...
Related Articles
  1. Investing

    Strategies For Quarterly Earnings Season

    Breeze through consensus estimates like the biggest Wall Street forecasters.
  2. Economics

    Earnings Forecasts: A Primer

    Learn how this key metric is calculated and how it is used to judge market performance.
  3. Economics

    What are Earnings?

    The amount of profit that a company produces during a specific period, which is usually defined as a quarter (three calendar months) or a year.
  4. Insurance

    Everything Investors Need To Know About Earnings

    We go over the concepts behind the excitement over the most important figure in the stock market.
  5. Investing

    How to Use Earnings Season to Make Better Decisions

    Earnings season reflects the state of the stock market, but also demonstrates how the overall economy is performing.
  6. Stock Analysis

    Boeing Stock: An Earnings Case Study (BA)

    Check out the earnings analysis for Boeing, including the company's historical earnings and analysts' past and future earnings estimates.
  7. Stock Analysis

    Amazon Stock: An Earnings Case Study (AMZN)

    Read this earnings analysis on Amazon, including comments on the company's historical earnings and breakdown of past and future analyst earnings estimates.
  8. Markets

    Whisper Numbers: Should You Listen?

    These unofficial forecasts hold the potential for insider insight - and investment risk.
  9. Fundamental Analysis

    The Financial Characteristics Of A Successful Company

    There are many factors that contribute to a profitable business. Find out what they are here.
  10. Fundamental Analysis

    Is It Time To End Quarterly Earnings Reporting?

    The chorus for removing the quarterly earnings requirement for companies is growing louder. We examine the pros and cons of the issue.
RELATED FAQS
  1. What happens if a company's earnings fall short of estimates?

    Understand what it means when a company "misses earnings" and does not live up to consensus estimates, and learn why most ... Read Answer >>
  2. When does Q4 start and finish?

    Learn about different financial years used by various companies. Explore when the fourth quarter begins on October 1st and ... Read Answer >>
  3. What can I learn about a company by studying its earnings report?

    Find out how to review an earnings report by looking for key information about cash flow and margins, and discover the importance ... Read Answer >>
  4. When is earnings season?

    Earnings season is the period of time during which a large number of publicly traded companies release their quarterly earning ... Read Answer >>
  5. What is earnings management?

    Before diving into what earnings management is, it is important to have a solid understanding of what we mean when we refer ... Read Answer >>
  6. What is the difference between earnings and revenue?

    Understand how a company makes revenue and how it makes earnings. Learn the difference between revenue and earnings and how ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center