it means: Quarter 4 in 2016
Anytime you see a "Q" and then a number between 1-4 and then a two-digit number following that, it is referring to a time in the year for business reporting purposes.
A quarter refers to one-fourth of a year and is typically expressed as "Q." The four quarters that make up the year are: January, February and March (Q1); April, May and June (Q2); July, August and September (Q3); and October, November and December (Q4). The two-digit number that follows represents the year.
For example, "We need to get the financial predictions for Q117 to accounting before the end of Q316."
NetLingo Classification: Acronyms and Text Message