Summary
Qualcomm Incorporated (QCOM) filed an 8-K on February 2, 2023, to report its financial results for the first quarter of fiscal year 2023. 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 GAAP and non-GAAP financial measures, with the company providing reconciliations and management's rationale for the presentation of non-GAAP figures, emphasizing their utility for understanding financial condition and operational results. The non-GAAP measures are intended to supplement, not replace, GAAP measures.
Key Highlights
- 1QCOM reported its Q1 fiscal 2023 financial results on February 2, 2023.
- 2The 8-K filing incorporates by reference a press release detailing the financial results.
- 3The press release includes both GAAP and Non-GAAP financial measures.
- 4Qualcomm provides reconciliations between GAAP and Non-GAAP financial measures.
- 5The company's management believes Non-GAAP measures offer useful insights to investors.
- 6Non-GAAP measures should be considered alongside, not as a substitute for, GAAP measures.
- 7The filing was made on February 2, 2023, concerning results for the quarter ending around that date.
Frequently Asked Questions
The main purpose of this 8-K filing is to report Qualcomm's financial results for its first quarter of fiscal year 2023, as detailed in an accompanying press release.
No, the filing itself does not include detailed financial statements but rather incorporates by reference a press release that contains the company's financial results.
The press release includes both GAAP (Generally Accepted Accounting Principles) and Non-GAAP financial measures. Qualcomm provides reconciliations between the two and explains why management finds the Non-GAAP measures useful for investors.
The actual financial results are contained within the press release furnished as Exhibit 99.1 to this 8-K filing.