Earnings for Q1 2013 are coming this month. Should you be surprised when a company beats its earnings estimates? No says Bespoke Investment Group. They posted an article a while ago showing that most companies beat the earnings and revenue estimates made by analysts.
As most stocks have a short ‘pop’ after an earnings and revenue beat you could of course use this information to make a little speculative bet by going long a few stocks on the day that they will be reporting earnings.
Although, of course, results from the past provide no guarantee for the future.