Summary
International Business Machines Corporation (IBM) filed an 8-K on April 17, 2018, to report its financial results for the first quarter ended March 31, 2018. The filing primarily serves to make public IBM's earnings release and presentation materials. Investors should note that the company provided both GAAP and non-GAAP financial information, with management believing the non-GAAP measures offer valuable insights. Reconciliations for these non-GAAP figures are available within the provided exhibits.
Key Highlights
- 1IBM announced its Q1 2018 financial results via press release on April 17, 2018.
- 2The 8-K filing incorporates the company's earnings release (Exhibit 99.1).
- 3Both GAAP and non-GAAP financial information were disclosed.
- 4IBM management asserts that non-GAAP measures provide useful insights to investors.
- 5Reconciliations between GAAP and non-GAAP financial measures are included in the press release.
- 6The filing also includes the CFO's earnings presentation slides (Exhibit 99.3).
- 7IBM directs investors to its website for ongoing financial and investor information.
Frequently Asked Questions
The main purpose of this 8-K filing is to formally report IBM's financial results for the first quarter ended March 31, 2018, and to make the associated press release and presentation materials publicly available.
No, IBM provided both Generally Accepted Accounting Principles (GAAP) financial results and certain non-GAAP financial information. Management believes these non-GAAP measures offer additional useful insights to investors.
Reconciliations between the non-GAAP financial measures and the most directly comparable GAAP financial measures are included in the earnings release, which is filed as Exhibit 99.1 to this 8-K.
In addition to the earnings release, the filing includes the rationale for management's use of non-GAAP measures (Exhibit 99.2) and the slides from the CFO's first-quarter 2018 earnings presentation (Exhibit 99.3).