Why did MCAA report zero earnings surprise in Q4 2021?

Mountain & Co. I Acquisition Corp. (MCAA) reported zero earnings surprise in Q4 2021 due to several factors: 1. **IPO and Strategic Focus**: MCAA is a blank check company that recently completed its initial public offering (IPO) in November 2021, raising $200 million. The company is focused on potential business combinations within the consumer internet and B2B digital infrastructure sectors. Given its relatively recent IPO and strategic focus, MCAA may not have had any material earnings to report in Q4 2021, leading to no earnings surprise. 2. **Lack of Business Operations**: As a SPAC, MCAA's primary activity is to identify and combine with target businesses rather than operating an ongoing business. In Q4 2021, the company likely did not engage in any significant business operations that would generate earnings, contributing to the zero earnings surprise. In summary, MCAA's lack of earnings surprise in Q4 2021 can be attributed to its IPO and strategic focus, as well as its status as a SPAC that does not operate a traditional business.