earnings - Trading Studio (Page 2)

Grouped bar chart showing cumulative abnormal returns by beat streak length at T+1, T+5, T+21, and T+63 windows for Indian BSE and NSE stocks 2020-2025.

earnings

Beat Streaks in India: +5.05% T+63 — and Why You Should Read the Fine Print

India shows the highest beat-streak returns globally at +5.05% T+63. But 95% of events are from 2022-2025. We publish the results with full transparency about the data coverage. The signal is real for that period. Whether it continues is an open question.

Grouped bar chart showing cumulative abnormal returns by beat streak length at T+1, T+5, T+21, and T+63 windows for Canadian TSX stocks 2000-2025.

earnings

Beat Streaks in Canada: +1.22% T+21 Over 25 Years on the TSX

Canadian beat streaks produce twice the abnormal return of US stocks. 5,684 events on the TSX from 2000-2025. T+21 CAR of +1.22% vs +0.55% for US. The drift keeps building to +1.76% at T+63.

Grouped bar chart showing cumulative abnormal returns by beat streak length at T+1, T+5, T+21, and T+63 windows for Brazilian B3 stocks 2015-2025.

earnings

Beat Streaks in Brazil: +2.49% T+63 in an Emerging Market

Brazilian beat streaks show back-loaded returns. The day-1 reaction is weak (+0.30%) but the drift builds to +2.49% by day 63. Streak 3 and streak 5+ both reach +3.1% at T+63. 1,358 events from 2015-2025 on B3.

event-study

Post-Earnings Drift in Taiwan: The Miss Penalty Is the Signal

16,497 earnings events on the Taiwan Stock Exchange (2000-2025). Misses drift -1.60% vs TAIEX at T+63 (t=-9.30). Q1 worst misses drop -2.89%. Q5-Q1 spread: +4.37pp, 2nd highest globally. Beats: +0.89% (t=+4.27). Next-day close entry.

Post-Earnings Drift in China: One-Sided Signal on A-Shares

event-study

Post-Earnings Drift in China: Everything Drifts Up on A-Shares

20,319 earnings events across Shenzhen and Shanghai (2000-2025). Beats drift +1.78% vs SSE Composite at T+63 (t=+8.18). Misses drift +0.74% (t=+4.67, also significant). Both sides positive. Q5-Q1 spread: +2.03pp. Next-day close entry.

Cumulative abnormal return (CAR) for TSX earnings beats vs misses at T+63 trading days vs TSX Composite benchmark

event-study

Post-Earnings Drift in Canada: A Modest but Real Signal on the TSX

20,168 earnings events on the TSX (2000-2025). Beats drift +1.13% vs TSX Composite at T+63 (t=+6.98). Misses drift -0.34% (t=-1.87, not significant). Q5-Q1 spread: +2.44pp. Next-day close entry.

Bar chart showing beats CAR at T+63 across 16 global exchanges, sorted by magnitude

event-study

Post-Earnings Drift Across 16 Markets: A Global Event Study

PEAD event study on 16 exchanges with MOC entry and local benchmarks. Q5-Q1 positive on 15 of 16. India leads at +5.17pp. US beats don't drift post-entry (-0.40%). Emerging markets show real drift. Developed markets don't.

Cumulative abnormal return (CAR) for earnings beats vs misses on BSE+NSE at T+1, T+5, T+21, T+63 trading days

event-study

Post-Earnings Drift in India: The Strongest PEAD Signal in the World

Indian stocks drift +2.89% vs the Sensex after positive earnings surprises over 63 trading days (next-day close entry). Q5-Q1 spread: +5.17pp. In a world where US beats show no post-entry drift, India's signal is the strongest globally.

Cumulative abnormal return (CAR) for JPX earnings beats vs misses at T+1, T+5, T+21, T+63 trading days vs EWJ benchmark

event-study

Post-Earnings Drift in Japan: The Miss Signal Is What Survives

With MOC entry and the Nikkei as benchmark, Japan's beat drift vanishes (-0.26%, not significant). Misses still decline -0.86% (t=-5.35). Q5-Q1: +1.20pp. The relative signal survives, but the tradeable edge is miss-avoidance.

Cumulative abnormal return (CAR) for earnings beats vs misses at T+1, T+5, T+21, T+63 trading days

event-study

Post-Earnings Announcement Drift: 25 Years of US Data

We analyzed 165,723 earnings events from 2000-2025 on NYSE/NASDAQ/AMEX with next-day close entry. Beats drift -0.40% vs SPY at T+63. Misses decline -0.95%. Q5-Q1 spread: +1.18pp. The announcement-day reaction is the bulk of PEAD. Post-entry, the US signal is a miss-avoidance tool.