The earnings are indeed important; however, other factors truly indicate their importance, such as variables that can cause differing price movements (Price Point), the price movement those earnings may generate (Significance), and the risk or profits associated with those earnings (Result).
This states whether the earnings will likely incite positive or negative price movement. “Favorable & negative” are subjective terms that are determined through a meticulous analysis of a stock’s quarterly financial results. A company may beat or miss the consensus estimate; however, this does not guarantee a rise or a decline.
Future events can be linked to historical data, it’s not a certain barometer for predictions, but understanding the past helps to demystify the unknown. This translates to a company’s earnings as well, the data will not be indicative of the next quarterly financial results, but you’ll be able to create a vague hypothesis.