A quarter is a three month period during the fiscal year used by companies to analyze their performance, measure their success, calculate and report earnings, and predict future business trends.
Quarterly reviews or Quarterlies are standard assessment procedures in which companies carry out departmental analysis to evaluate, plan and set future goals taking into account budget allocation as well as past, present and future potential growth.
At the end of a fiscal quarter companies submit progress report to investors and outside parties not involved in day-to-day operations, for a status and future planning review.