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Time in Yerevan: 11:07,   29 March 2024

A leap forward in quarterly earnings stories

A leap forward in quarterly earnings stories

YEREVAN, JULY 1, ARMENPRESS. The Associated Press announced in an advisory to customers today that the majority of U.S. corporate earnings stories for our business news report will eventually be produced using automation technology.

As reports "Armenpress", the media company announced in a blog post, that Lou Ferrara, the AP managing editor who oversees business news, explains how this leap forward takes advantage of new technologies to free journalists to spend more time on things like beat reporting and source development while increasing, by a factor of more than 10, the volume of earnings reports for customers.

Like all media companies, AP is constantly reviewing what content it needs to provide to customers and the best use of its reporting resources. At the same time, we analyze the value of the content we produce in the marketplace.

For many years, we have been spending a lot of time crunching numbers and rewriting information from companies to publish approximately 300 earnings reports each quarter. We discovered that automation technology, from a company called Automated Insights, paired with data from Zacks Investment Research, would allow us to automate short stories – 150 to 300 words — about the earnings of companies in roughly the same time that it took our reporters.

And instead of providing 300 stories manually, we can provide up to 4,400 automatically for companies throughout the United States each quarter.

We believe technological automation will be a part of many businesses, including those in media. As part of its business relationship with Automated Insights, AP participated in the company’s latest round of investment financing with other strategic partners.

Does it mean we are no longer providing editorial coverage of earnings reports?

No. If anything, we are doubling down on the journalism we will do around earnings reports and business coverage.

We are going to use our brains and time in more enterprising ways during earnings season. Rather than spending a great deal of time focusing on the release of earnings and hammering out a quick story recapping each one, we are going to automate that process for all U.S. companies in the 4,400. (We are exploring whether we can automate earnings from companies outside the United States.)

Instead, our journalists will focus on reporting and writing stories about what the numbers mean and what gets said in earnings calls on the day of the release, identifying trends and finding exclusive stories we can publish at the time of the earnings reports.

AP’s staff breaks a lot of business news and obtains numerous exclusives throughout the year from many of the top companies in the world. We know that is what our customers want and we are going to deliver more of it through this process.








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