Quarterly Revenue Estimates
The expected future path of quarterly sales based on analyst guesses.
It is a series of 4 estimates that looks ahead to the end of the current quarter and 3 quarters beyond the current one. The series is based on estimates received from analysts polled by Zacks Investment Research on the previous business day.
1) Analysts are making guesses. While they generally become more accurate as they approach the reporting date, they do guess incorrectly. This can lead to large effects on the stock price when the true numbers are revealed.
2) Reporting dates are later than the actual fiscal quarter end date. Hence, estimates for the fiscal quarter end date continue to be issued after quarter ends until the company reports.
3) There are multiple sources for earnings estimates, and different providers will give slightly different "consensus" numbers.