An earnings call, derived from a shortcut of the term “earnings per share” (EPS), is basically a conference call wherein the top management discusses the financial performance or results of a reporting period, as publicly traded companies are mandated by federal security laws to be transparent with information mentioned in 10Q (quarterly report) and 10K (annual report) forms along with qualitative discussions. Thus, several companies promote data transparency and provide recordings or transcripts of earnings calls on their corporate websites to keep all investors in the loop with the happenings and decisions being made within the company.
Getting accurate information from earnings calls is crucial in various business aspects, which is why extracting details using conference call transcriptions is very important. Here are some advantages of transcribing earnings calls:
- The first and most obvious advantage is having information accessible and easily disseminated through email or websites, especially for investors and the like who were unable to attend the call. Corporate transcriptions help companies deliver accurate messages and information to investors for thorough review. Providing documentations allows stakeholders to easily highlight key information most beneficial to their interests.
- You can ensure that you’ve presented the correct information during earnings calls but you can never guarantee that conference call participants catch every detail exactly as intended. Earnings call transcripts are provided to people after the call for them to review meeting information and determine if there are corrections or arguments to be made.
- Media, bloggers, financial analysts and planners, and prospective investors can also considered as financial stakeholders nowadays. The rise of blog posts, forecasts, and reviews had made the internet as the people’s go-to source of information. Since the public doesn’t have the luxury of joining earnings calls first-hand, transcripts are published to satisfy their need for information about stock trends and opportunities, as well as the success or failure of their investments, and help them make informed decisions for future investments.
- Corporate transcriptions are very useful for generating various accessible formats to be archived for easy referencing and analysis. Transcripts of past earnings calls are retained in websites to avoid confusion among the public. Companies usually choose to publish earnings call transcripts instead of audio recordings as they tend to be smaller in file size.
Choosing the right transcribing service is critical to the quality, timeliness, and security of sensitive information. Additionally, knowing the best practices for recording conference calls will make it easier to transcribe it. Find a general transcription service, like TranscriptionWing, that’s experienced in producing corporate transcriptions, highly familiar with business and financial terminologies, customizes transcript formats, and who goes the extra mile to protect client confidentiality.