Sun Microsystems CEO Jonathan Schwartz says Sun will publish its earnings on its web site Monday evening 10 minutes before issuing a traditional press release–the first company to do so. Schwartz views that is as a first step toward eliminating the “anachronistic” press release altogether.
Schwartz’s main goal seems to be to speak directly to investors instead of to the press. To a large extent, this has already happened: investors read “press releases,” too, and any earnings release published on the web site will probably take a similar form. This said, we’re certainly in favour of any actions designed to provide casual investors with the same access and information available to beat reporters and investment analysts. Richard Waters, FT