Trump: Companies should report on 6-month basis, not quarterly

President Trump on Monday suggested public companies should report their earnings on a six-month basis, rather than quarterly.

"This will save money, and allow managers to focus on properly running their companies," Trump posted on Truth Social. "Did you ever hear the statement that, 'China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis???' Not good!!!"

Such a change would require approval from the Securities and Exchange Commission (SEC), which has required quarterly disclosures since 1970. The SEC in 2018 conducted an analysis of whether companies should shift to reporting earnings every six months.

While Trump used China as a point of comparison, companies there must file earnings reports every quarter, as well as semi-annually, CNBC reported. Companies listed on the Hong Kong exchange report their earnings every six months.

The push for changes to earnings report marks the latest instance of Trump proposing shifts in how economic data is reported. The president has also called for changes to how monthly jobs data in the U.S. is reported, pushing for an ally to be installed as the head of the Bureau of Labor Statistics.