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Brackets are used for creating an array formula.

From Microsoft:

An array formula is a formula that can perform multiple calculations on one or more of the items in an array. Array formulas can return either multiple results or a single result. For example, you can place an array formula in a range of cells and calculate a column or row of subtotals. You can also place a formula in a single cell and calculate a single amount. An array formula that resides in multiple cells is called (logically enough) a multi-cell formula, and an array formula that resides in a single cell is called a single-cell formula.

To multiply the values in the array (the cell range C2 through D11), select cells E2 through E11, and then enter the following formula in the formula bar:

=C2:C11*D2:D11

Press CTRL+SHIFT+ENTER to enter the array formula (and observe the brackets in the formula).

TIP: If you later go back and edit the array formula, remember to press CTRL+SHIFT+ENTER. Don't just press ENTER or you will destroy the array formula and display an error message until you go to the cell and press CTRL+SHIFT+ENTER again.

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Q: What are brackets used for when creating a formula or calculation?
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