Profit reporting season for ASX-listed companies has begun, so what does it mean for you?

Many new investors have jumped into the share market recently, and maybe you’re one of them.

After plunging to the lows of March last year, the Australian market has been on the rebound, taking first-time investors along for the ride.

And in the last few weeks, the GameStop buying frenzy has caught the attention of some who’ve never watched stocks before.

With interest rates at record lows, the returns you get for keeping your money in the bank have plummeted, so more people are looking for alternative ways to boost their finances.

If you’ve only started buying stocks in the past few months, this might be the first time you’ve heard of reporting season.

So here’s what it all means and how it’s relevant to you.

What is reporting season?

A…