Quiet Period
Also known as: Blackout Period
A quiet period is the window before an earnings release when a company limits communication with investors to avoid selectively disclosing results.
A quiet period is a self-imposed window, usually in the weeks leading up to an earnings release, during which a company restricts what it says to investors and analysts. It is sometimes called a blackout period.
The purpose
As results take shape, almost any comment could hint at the outcome and risk a selective disclosure under Regulation FD. Going quiet protects the company and ensures everyone learns the results at the same time.
What still happens
Companies typically pause new guidance and one-on-one commentary on the quarter, but routine operations and previously disclosed information remain fair game. The quiet period ends once results are released on the earnings call.