8-KEarnings & ResultsRegulation FDExhibits & Filings

INTERNATIONAL BUSINESS MACHINES CORP 8-K Report, Financial Results (Jul 20, 2020)

Filed July 20, 2020For Securities:IBM

Summary

This 8-K filing from IBM, dated July 20, 2020, primarily serves to announce the company's second-quarter 2020 financial results. The report includes a press release detailing these results, which investors should refer to for specific financial figures. Notably, IBM is providing both GAAP and non-GAAP financial information, with reconciliations and management's rationale for using non-GAAP measures included in accompanying exhibits. Additionally, the filing includes slides from the CEO and CFO's earnings presentation for the second quarter. This comprehensive disclosure aims to offer investors a thorough understanding of IBM's performance and financial condition, with an emphasis on providing additional context through non-GAAP metrics. Investors are encouraged to visit IBM's investor relations website for ongoing updates.

Key Highlights

  • 1IBM filed an 8-K on July 20, 2020, to report its second-quarter 2020 financial results.
  • 2The filing incorporates the official earnings press release dated July 20, 2020, as Exhibit 99.1.
  • 3IBM is presenting both GAAP and non-GAAP financial measures to provide a more comprehensive view of its performance.
  • 4Reconciliations for non-GAAP measures to their GAAP equivalents are included in Exhibit 99.1.
  • 5Management's rationale for utilizing non-GAAP financial information is detailed in Exhibit 99.2.
  • 6The company also furnished the earnings presentation slides from the CEO and CFO for Q2 2020 as Exhibit 99.3.
  • 7Investors are directed to IBM's investor relations website for continuous updates and detailed financial information.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially report IBM's financial results for the second quarter ended June 30, 2020, and to provide investors with access to the related earnings press release and presentation materials.

IBM is providing its second-quarter 2020 financial results based on Generally Accepted Accounting Principles (GAAP). They are also providing non-GAAP financial information, which management believes offers additional useful insights, along with reconciliations between the two.

The detailed financial results, including consolidated financial statements and reconciliations of non-GAAP measures, are available in the earnings press release (Exhibit 99.1) and the earnings presentation slides (Exhibit 99.3), both of which are part of this 8-K filing. IBM also encourages investors to visit their investor relations website for ongoing information.

IBM is using non-GAAP financial measures because management believes they provide useful information to investors by offering a more meaningful view of the company's ongoing operational performance. The specific rationale for their use is detailed in Exhibit 99.2 of this filing.