secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL BUSINESS MACHINES CORP (IBM)
CIK:        0000051143
Form:       8-K
Filed at:   2026-07-22T20:10:24+00:00
Accession:  0000051143-26-000077
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51143/000005114326000077/0000051143-26-000077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51143/000005114326000077/ibm-20260722.htm
  HTML page:      https://secwatch.observer/filing/0000051143-26-000077

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