IBM Q2 prelim: rev $17.2B (+1%), GAAP EPS $2.27 (-2%); cites client capex shift, cyber distractions for shortfall

INTERNATIONAL BUSINESS MACHINES CORP

Revenue $17.2B (+1% YoY); Software +5%, Consulting flat, Infrastructure -7%.
GAAP diluted EPS $2.27 (-2%); Operating (non-GAAP) EPS $2.93 (+5%).
YTD net cash from ops $7.8B; free cash flow $4.8B.
Shortfall driven by client capex reprioritization and cybersecurity distractions; large deals failed to close.
Announced Lightwell ($5B commitment) and quantum foundry Anderon ($1B CHIPS incentives, $1B IBM cash).

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.