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Simple English definitions for legal terms
Form 10-Q
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A quick definition of Form 10-Q:
Form 10-Q: A report that public companies have to file with the Securities and Exchange Commission (SEC) every three months to show how their business is doing. It's like a report card for the company's performance during the past three months. The report has information about the company's finances, but it's not checked by an outside auditor. Companies only have to file three 10-Qs per year, and the last quarter is covered by the company's Form 10-K.
A more thorough explanation:
Form 10-Q is a report that public companies file with the Securities and Exchange Commission (SEC) every quarter. It contains information about the company's financial performance during the previous three months.
The report is similar to Form 10-K, which is filed annually, but with less detail and unaudited financial statements. Companies file three 10-Qs per year, with the final quarter covered by the 10-K.
For example, Apple filed its Form 10-Q for the third quarter of 2021, which included information about its revenue, expenses, and net income during that period.
These reports are important for investors and analysts who want to track a company's financial performance over time. They can use the information in the 10-Q to make informed decisions about buying or selling the company's stock.