secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL BUSINESS MACHINES CORP (IBM)
CIK:        0000051143
Form:       8-K
Filed at:   2023-07-19T23:59:59+00:00
Accession:  0000051143-23-000010
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51143/000005114323000010/0000051143-23-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51143/000005114323000010/ibm-20230719.htm
  HTML page:      https://secwatch.observer/filing/0000051143-23-000010

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer