This study has a purpose to check whether there is an alteration towards bid ask spread around earnings statements in Syariah companies that are listed in Indonesian stock market. The population of the study is 336 Syariah companies that are listed on Daftar Efek Syariah, and 66 companies that fulfill the criteria are chosen. The result of Z-test shows that the average bid-ask-spread of companies in five days before doing the earnings statement is higher than average bid-ask-spread in five days after doing the earnings statement. Thus, there is a bid-ask-spread difference between before and after earnings statement. The spread improvement stock because of earnings statement is 34.2%, and the rest 65.8% is caused by another factor. This indicates that some investors still consider stock as trade commodity.