Earnings call transcripts provide investors with more detailed information than they may get from the earnings report itself.
Think of it this way: An earnings report tells investors what is happening with a company’s financials. The discussion that companies have with analysts after releasing its earnings report gives them more information about the “why.”
As noted above, these earnings calls are generally provided for the analysts that cover a company. Analysts who work on the “buy side” or the “sell side” use these conversations as the basis for providing a rating on a company. They are also useful for assigning a price target for the company’s stock.