That only works until it doesn't.
Microsoft used to do that, like 15-20 years ago. Quarter after quarter, they'd say some number, then they would come in higher than that. After some years, the analysts would just modify their estimates after Microsoft's guidance, adding that "whisper number" to whatever Microsoft said they would do.
But one quarter, Microsoft comes in exactly where they said they would come in. The market was merciless. The market was offended. The market now felt that it no longer even knew if Microsoft was even bothering to tell the truth in its numbers.
With the rules of the SEC (Security and Exchange Commission), you sure don't want to be caught low-balling either revenues OR earnings. That'll get you in deep trouble if they think you're trying to influence the market by bending, twisting, stretching, or spindling the numbers in any way.
And the market itself just despises surprises and unknowns. Not necessarily right away, but eventually, it will punish any company that doesn't get the point. That's because most big traders are mutual funds, pension funds, insurance companies, and other large institutions. They want to be able to buy $50 million of your stock over the course of weeks or months, and they don't want to have to sell it too soon just because your finance guy is a flake and gave forward guidance that was totally wrong last quarter.
So it's better to consistently come in as close as possible to what you SAID you were going to do when you gave your forward-looking guidance. And be able to explain any variance.
