IBM Q2 2023 revenue $15.5B (-0.4%); GAAP EPS $1.72; Software up 7%, Infrastructure down 15%

INTERNATIONAL BUSINESS MACHINES CORP

2023-Q2 EPS reported $2.73 revenue$29,727,000,000

Revenue $15.5B, down 0.4% YoY (up 0.4% constant currency); GAAP diluted EPS $1.72, operating EPS $2.18.
Software revenue $6.6B (+7% YoY); Red Hat up 11%; Transaction Processing up 9%.
Consulting revenue $5.0B (+4% YoY); Infrastructure revenue $3.6B (-15% YoY, z Systems down 30%).
GAAP gross margin 54.9% (+160 bps); free cash flow Q2 $2.1B (flat YoY); YTD free cash flow $3.4B.
Full-year guidance reaffirmed: constant currency revenue growth 3-5%; free cash flow ~$10.5B.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

INTERNATIONAL BUSINESS MACHINES CORP reported second quarter of 2023 results: revenue $15.5 billion, net income $1.6 billion, EPS $1.72. Guidance reaffirmed.

Period: second quarter of 2023
Revenue: $15.5 billion
Net income: $1.6 billion
EPS: $1.72
Guidance: reaffirmed
Result: reported results

Exact text from the filing

watsonx AI platform. Finally, we remain confident in our revenue and free cash flow growth expectations for the full year.” Second-Quarter Highlights • Revenue – Revenue of $15.5 billion, down 0.4 percent, up 0.4 percent at constant currency – Software revenue up 7 percent, up 8 percent at constant currency – Consulting revenue up 4 percent, up 6 percent at

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Source: SEC EDGAR

accession 0000051143-23-000010

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