8-KEarnings & ResultsExhibits & Filings

QUALCOMM INC/DE 8-K Report, Financial Results (Feb 3, 2021)

Filed February 3, 2021For Securities:QCOM

Summary

Qualcomm Incorporated (QCOM) has filed an 8-K report on February 3, 2021, to announce its financial results for the first quarter of fiscal year 2021. The filing primarily consists of a press release detailing these results, which is furnished as an exhibit. Investors should note that the press release includes both Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. The company provides reconciliations and explanations for the use of non-GAAP measures, asserting their usefulness for understanding financial condition and operational results. Investors are advised to consider these non-GAAP measures alongside, but not as a replacement for, GAAP-based figures.

Key Highlights

  • 1QCOM announced its Q1 fiscal 2021 financial results via an 8-K filing on February 3, 2021.
  • 2The report's primary content is a press release detailing the company's financial performance for the quarter.
  • 3The press release contains both GAAP and non-GAAP financial measures.
  • 4Qualcomm management believes non-GAAP measures offer valuable insights into the company's financial health.
  • 5Reconciliations between GAAP and non-GAAP financial measures are provided within the press release.
  • 6Investors should view non-GAAP results as supplementary to, and not superior to, GAAP results.
  • 7Exhibit 99.1 contains the full press release, and Exhibit 104 is an interactive data file in Inline XBRL format.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially announce Qualcomm's financial results for its first quarter of fiscal year 2021. It incorporates a press release containing these results by reference.

Non-GAAP financial measures are metrics that exclude certain items from the standard GAAP calculations. Qualcomm presents them because management believes they provide a more useful view of the company's ongoing operational performance and financial condition to investors, supplementing the standard GAAP reporting.

Investors should consider the non-GAAP measures as additional information that may offer a different perspective on performance. However, they should always be reviewed in conjunction with, and not as a replacement for, the financial results prepared according to GAAP.

The detailed financial results are available in the press release furnished as Exhibit 99.1 to this 8-K filing.