---
schema_version: "secwatch.filing_event.v1"
accession: "0000051143-26-000093"
form_type: "8-K"
ticker: "IBM"
cik: "0000051143"
company_name: "INTERNATIONAL BUSINESS MACHINES CORP"
filed_at: "2026-10-21T20:19:17+00:00"
generated_at: "2026-10-21T20:21:26.510891+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# IBM Q3 revenue $17.1B up 5%; operating EPS $2.95 up 11%; raises FY free cash flow outlook

## Summary
- Revenue $17.1B, up 5% (6% constant currency); Software $7.8B +8%, Infrastructure $3.7B +4%, Consulting $5.3B flat, Financing $0.2B -4%.
- GAAP diluted EPS $2.31, up 26%; operating (non-GAAP) EPS $2.95, up 11%; operating pre-tax margin 19.3%, up 70 bps; GAAP margin 14.6%, down 30 bps.
- Data revenue up 19% and Hybrid Cloud (Red Hat) up 11%; Distributed Infrastructure +31%, but IBM Z down 20% and Automation down 3%.
- FY2026 outlook: constant-currency revenue growth of 4-5% reiterated; free cash flow now expected to increase more than $1B year over year.
- Dividend held at $1.69/share, record Nov 10, 2026, payable Dec 10, 2026; YTD free cash flow $7.8B, up $0.6B; $11.4B spent on acquisitions this year.

## SEC filing metadata
- accession: 0000051143-26-000093
- form_type: 8-K
- ticker: IBM
- cik: 0000051143
- company_name: INTERNATIONAL BUSINESS MACHINES CORP
- filed_at: 2026-10-21T20:19:17+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/51143/000005114326000093/0000051143-26-000093-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/51143/000005114326000093/ibm-20261021.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000051143-26-000093
- JSON: https://secwatch.observer/filing/0000051143-26-000093.json
- Plain text: https://secwatch.observer/filing/0000051143-26-000093.txt

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