What it is
When reported results come in far above the analyst consensus it is called an earnings surprise; far below, an earnings shock.
Threshold
There is no official cutoff, but a gap of 10% or more versus consensus, usually on operating profit, is commonly described this way.
What to keep in mind
If expectations were already priced in, a beat can still send the stock lower. Whether the improvement is recurring matters more than the headline.
This explanation is general information, not investment advice. Rules reflect September 2026 and may change; check official exchange and broker notices.