Expectation
It refers to a presumed degree of probability of an occurrence, or, from a more statistical point of view, an average probability of a chance occurrence.
Some reports issued, either official or by independent analysts, investment bank or financial services company, indicate how a certain security price will perform in the near future. This expected value is then compared to the actual results. If an instrument performs better than than what analysts expected, it is considered to have "beat expectations" or delivered stronger-than-expected results.
