[dagw]

If everybody already assumed that they would miss estimates then announcing that you missed estimates won't affect the share price.

[freehunter]

If everyone already assumed they'd miss analyst estimates, then what's the point of an analyst?

[brixon]

The company's estimates and outside analyst's estimates are two different things. When they agree then I think the price gets reflected quickly, when they disagree it opens it up for more volatility.