secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL BUSINESS MACHINES CORP (IBM)
CIK:        0000051143
Form:       8-K
Filed at:   2026-07-14T11:01:52+00:00
Accession:  0000051143-26-000070
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51143/000005114326000070/0000051143-26-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51143/000005114326000070/ibm-20260714.htm
  HTML page:      https://secwatch.observer/filing/0000051143-26-000070

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