An "Earnings Surprise" occurs when a company's reported earnings differ significantly from analysts' expectations. This can happen when a company earns more or less than what was predicted, leading to a surprise for investors and market analysts. Such surprises can influence stock prices, as they may indicate a company's financial health or future performance. Earnings surprises are often measured in percentage terms, showing how much actual earnings deviate from estimates. Positive surprises can lead to a rise in a company's stock price, while negative surprises may cause a decline. Investors closely monitor these surprises to make informed decisions about their investments in companies like Apple or Tesla.