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First time posting at Quantitative Finance, hope the question is well suited in this stack section. I was wondering, where does big companies like Bloomberg or Reuters get their data? Since now, in my application I scrape data directly from Reuters (for fundamental analysis). I'd like to bypass this problem and get data from source, if possible.

Thanks for your time.

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Assuming we're talking about US, the companies report their quarterly numbers via 10-K/Q forms available on EDGAR, e.g.

https://www.sec.gov/ix?doc=/Archives/edgar/data/0000034088/000003408821000051/xom-20210630.htm

For the sell side estimates/consensus numbers they typically get them directly from the analysts.

In both cases, you pay Bloomberg/Refinitiv/Factset for then convenience of having them collect, process and normalize the data for you.

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  • $\begingroup$ Ok, perfect. US data comes from SEC, but europeans? $\endgroup$
    – Matteo
    Commented Oct 6, 2021 at 14:50
  • $\begingroup$ Sorry, I'm don't know much about EU reporting regulations. Perhaps, others can comment on that $\endgroup$
    – LazyCat
    Commented Oct 6, 2021 at 14:52
  • $\begingroup$ Does Refinitiv get their data from filings? $\endgroup$
    – David Yang
    Commented Oct 6, 2021 at 16:20
  • $\begingroup$ @DavidYang I don't know it for a fact, but I'm pretty certain they get the actuals from filings. $\endgroup$
    – LazyCat
    Commented Oct 6, 2021 at 16:26
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Also, there are several stock market API's from which some websites and companies browse their data. For example, IEX API or financialmodellingprep API.

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