---
schema_version: "secwatch.filing_event.v1"
accession: "0000051143-26-000077"
form_type: "8-K"
ticker: "IBM"
cik: "0000051143"
company_name: "INTERNATIONAL BUSINESS MACHINES CORP"
filed_at: "2026-07-22T20:10:24+00:00"
generated_at: "2026-07-22T20:11:22.746567+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# IBM Q2 GAAP EPS $2.27, revenue $17.2B down 1% YoY; guides 4-5% constant currency growth

## Summary
- GAAP revenue $17.2B (-1% YoY); GAAP diluted EPS $2.27 (-2% YoY); operating EPS $2.93 (+5% YoY).
- Software revenue $7.8B (+5%) led by Red Hat (+11%) and Data (+19%); Infrastructure down 7% (IBM Z -42%).
- Q2 free cash flow $2.5B (-$0.3B YoY); first-half FCF $4.8B flat; dividend $1.69/share payable Sep 10.
- Full-year guidance: constant currency revenue growth 4-5%; FCF increase ~$1B YoY; improved pre-tax margin.
- IBM invested $10.5B in acquisitions YTD; Distributed Infrastructure backlog ~$500M.

## SEC filing metadata
- accession: 0000051143-26-000077
- form_type: 8-K
- ticker: IBM
- cik: 0000051143
- company_name: INTERNATIONAL BUSINESS MACHINES CORP
- filed_at: 2026-07-22T20:10:24+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/51143/000005114326000077/0000051143-26-000077-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/51143/000005114326000077/ibm-20260722.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000051143-26-000077
- JSON: https://secwatch.observer/filing/0000051143-26-000077.json
- Plain text: https://secwatch.observer/filing/0000051143-26-000077.txt

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