Earnings season

QWhat is “earnings season,” and when is it? — W.S., Worcester, Massachusetts

APublic companies (those with publicly traded stock) are required to report on their earnings and financial condition in three quarterly “10-Q” reports and in an annual “10-K” report for their fourth quarter. They can structure their fiscal year as they want, and while many companies end their years at the conclusion of December, others choose the end of March, June or September.

Earnings reports are typically issued a few weeks after the end of the quarter, so gobs of American companies release their reports from early January through February, from early April through May, from early July through August and from early October through November. These are the four “earnings seasons.” They’re of interest to many investors because they offer new, fresh data on companies, and analysts and commentators will often issue revised opinions on companies after earnings reports.

Stock prices can also rise or fall following an earnings report, when results are better or worse than expected. For best investing results, learn to read and understand financial statements yourself — and keep up with your holdings’ earnings reports.

QAre there any index funds that are focused on the world outside the U.S.?

— T.C., Tulsa, Oklahoma

AThere sure are, offered by many companies. Vanguard, for example, offers its Vanguard FTSE All-World ex-U.S. Index (VFWAX, VEU), covering the whole world market except the U.S., while its emerging markets index funds (VEMAX, VWO) focus on developing economies, which can grow rapidly while being riskier. There’s also the Vanguard European Stock Index (VEURX) and Vanguard Pacific Stock Index (VPACX), among other possibilities, and the Vanguard Total Bond Market II Fund (VTBIX) gives you global bonds.