Summary
Qualcomm Inc. (QCOM) filed an 8-K on April 28, 2021, to report its financial results for the second quarter of fiscal year 2021. The filing primarily directs investors to a press release (Exhibit 99.1) which contains detailed financial information, including both GAAP and Non-GAAP measures. This press release is the key source of information regarding the company's performance during the reported quarter, outlining its revenue, profitability, and other key financial metrics. Investors should note that the press release includes Non-GAAP financial measures, which are presented to provide additional insights alongside the standard GAAP figures. The company emphasizes that these Non-GAAP measures are intended to supplement, not replace, GAAP reporting and are believed by management to offer a more useful view of Qualcomm's financial condition and operational results. For a comprehensive understanding, it is essential to review the full press release and the accompanying reconciliations between GAAP and Non-GAAP figures.
Key Highlights
- 1QCOM filed an 8-K on April 28, 2021, to announce its Q2 FY2021 financial results.
- 2The primary information source is a press release (Exhibit 99.1) furnished with the filing.
- 3The press release contains both GAAP and Non-GAAP financial measures.
- 4Non-GAAP measures are presented alongside comparable GAAP measures.
- 5Management believes Non-GAAP measures provide useful insights into financial condition and results of operations.
- 6Investors are advised to consider Non-GAAP measures in addition to, not as a substitute for, GAAP measures.
- 7The filing incorporates the press release by reference.