The term 'First Quarter' typically refers to the first three months of a fiscal year, which is crucial for businesses to assess their financial health. During this period, companies report their earnings and performance metrics, providing insights into their operational efficiency and market position. Investors and analysts closely monitor these reports to gauge trends and make informed decisions. A strong first quarter can set a positive tone for the rest of the year, while a weak performance may raise concerns about future growth and profitability.