The various elaborations of entrepreneurial orientation (EO) that have appeared in the literature suggest that the raison d’etre for behaving entrepreneurially is to enhance performance (Covin & Lumpkin, 2011).Yet, there is no common understanding of how performance is operationalized and measured in EO research. In this study, we expand the knowledge frontier by (a) examining the extent to which performance has been examined as a consequence of EO, (b) identifying various dimensions of organizational performance in the EO literature, and (c) providing recommendations for selecting appropriate performance indicators in future EO research.