Hi MB,
Most HR displays sample at 4 Hz, but use the raw information provided over the ANT+ HRM channel to compute an instantaneous (and not averaged) beats-per-minute (bpm) data point (Think tangent of a line, and not a line of best fit).
This bpm is updated once per heart beat. For the average person, that's about once per second. If you're exercising, that multiple times a second.
The ANT+ HRM profile also exposes the timestamp of the heart beat event.
Which API are you using?
Regards,
BK