A whisper number is an unofficial, informal earnings per share (EPS) or revenue estimate that circulates among traders and analysts ahead of a company's official quarterly results announcement, often reflecting a more bullish or bearish consensus than the published analyst estimates. Whisper numbers are typically shared informally through trader networks, financial forums, and social media. When a company's actual results beat the whisper number, the stock tends to rally sharply; missing the whisper number—even while beating official estimates—can lead to a sell-off. Tracking whisper numbers is part of the pre-result intelligence gathering that active traders conduct.
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