secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL BUSINESS MACHINES CORP (IBM)
CIK:        0000051143
Form:       8-K
Filed at:   2023-07-20T23:59:59+00:00
Accession:  0000051143-23-000015
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IBM Q2 revenue $15.5B, op. EPS $2.18; software up 8%, consulting up 6%
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- Revenue of $15.5B; operating pre-tax income $2.4B; free cash flow $2.1B in Q2, $3.5B first half.
- Software revenue +8% (cc) led by Red Hat (+11%) and Data & AI (+11%); Consulting +6% with broad-based growth.
- Infrastructure -14% reflecting z16 cycle wrap; full-year Infrastructure revenue expected to decline, impacting IBM overall by >1 point.
- Full-year 2023 outlook reaffirmed: 3-5% revenue growth (cc), ~$10.5B free cash flow, operating pre-tax margin +0.5pt YoY.
- Announced planned acquisition of Apptio to boost IT automation; watsonx AI platform launched in early July.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51143/000005114323000015/0000051143-23-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51143/000005114323000015/ibm-20230719.htm
  HTML page:      https://secwatch.observer/filing/0000051143-23-000015

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