What do q1 or q3 mean?

According to Finance Strategists, “A quarter refers to a three month period (i.e. one quarter of one year) on a company’s financial calendar, that establishes a period for financial reports and dividend payments.

Most financial reporting is done on a quarterly basis since this increment of time is a sweet spot, where data is less prone to the spikes and dips of smaller time frames, and investors receive timely updates on company performance.

Financial quarters are typically expressed as “Q”followed by the quartile number;

1.) The first quarter is Q1

2.) The second quarter is Q2

3.) The third quarter is Q3

4.)The fourth quarter is Q4

Making the four quarters of the year.

Quarters may also be represented along with their relevant year, as in Q1 2020 or Q1/20.

For most businesses, the fiscal year starts on January 1st and ends on December 31st; however, some businesses begin and end their fiscal year on different dates.”