President Donald Trump wants to do away with the quarterly earnings report .

In a post on Truth Social, Trump said securities regulators should stop requiring companies to issue financial reports every three months and instead switch to a six-month reporting period. The Securities and Exchange Commission has required publicly traded companies to report on a quarterly basis since 1970.

“This will save money, and allow managers to focus on properly running their companies,” Trump wrote.

Trump asked the SEC to examine the three- versus six-month reporting requirement during his first term. No change was made.

Supporters of the change say quarterly reporting is too costly and time-consuming and discourages companies from wanting to go public. They also say company executives focus too

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