---
schema_version: "secwatch.filing_event.v1"
accession: "0000051143-23-000010"
form_type: "8-K"
ticker: "IBM"
cik: "0000051143"
company_name: "INTERNATIONAL BUSINESS MACHINES CORP"
filed_at: "2023-07-19T23:59:59+00:00"
generated_at: "2026-06-13T06:39:08.899009+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000051143-23-000010
- form_type: 8-K
- ticker: IBM
- cik: 0000051143
- company_name: INTERNATIONAL BUSINESS MACHINES CORP
- filed_at: 2023-07-19T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/51143/000005114323000010/0000051143-23-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/51143/000005114323000010/ibm-20230719.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000051143-23-000010
- JSON: https://secwatch.observer/filing/0000051143-23-000010.json
- Plain text: https://secwatch.observer/filing/0000051143-23-000010.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/51143/000005114323000010/0000051143-23-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.