Earnings season is here… again. And the media is in frenzy… again. So what's all the hype really about? Here are 5 Things You Need to Know About Earning Season and profit!

1. Earning reports are released at the end of each quarter: January, April, July and October. Most companies are required to make their quarterly earnings public prior to filing their required earnings reports to the Securities and Exchange Commission (SEC). This normally occurs at the end of each quarter. That's why earnings season is four times a year.
2. Earnings are a good indicator of a company's financial health. Simply put earnings equal profits. Take a company's revenue from sales, subtract all costs and there's your earnings. That's why when a company beats its earnings, the stock moves higher. On the contrary, any disappointment either in reported results or forecasts for the next quarter can adversely affect the stock price.
3. Earnings season is all about expectations. Before earnings reports come out, stock analysts issuing what they call "earnings estimates" —what they think earnings will look like. Companies that hit or exceed their numbers offer investors a nice "earnings surprise" and usually see their stock prices skyrocket. On the contrary, if earnings are unexpectedly lowered, the stock can sink to all-time lows.
4. "Earnings Per Share" is the magic number. Although analysts look at many factors when rating a stock, during earnings season they focus on Earnings per Share (or EPS) like a hawk on prey. That's because before earnings reports actually come out, stock analysts have already estimates—or basic forecasts—on how well the company stock is expected to perform.
5. Don't Believe the Hype.  As you may have guessed by now, EPS is the most important number released during earnings season and is the one number that attracts the most attention and media coverage. But investor's always need to remember to read-in-between the lines. Believe it or not, it's the company's press release that makes the headlines…few investors ever read the actual SEC report!

Shoveling through an avalanche of earnings season data won't break your back—if you know where look, like Louis Navellier does.  When earnings season hits, he knows what to buy!

Louis Navellier is an earnings pro! For more than 20 years, he has published some of the most profitable advice for individual investors like you. In his latest special report, Windfall Earnings from Stocks that Refuse to Go Down, he reveals what other people aren't saying and demystifies the surprises and disappointments of earnings season. Plus he reveals 5 stocks for 30%-50% gains and 13 big-name stocks to avoid.

Best of all? It's FREE for Confident Investor readers! Click here to download your free copy of Windfall Earnings from Stocks that Refuse to Go Down.