secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL BUSINESS MACHINES CORP (IBM)
CIK:        0000051143
Form:       8-K
Filed at:   2026-10-21T20:19:17+00:00
Accession:  0000051143-26-000093
Event type: earnings
Sentiment:  positive
Materiality: 0.78
Item codes: 2.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51143/000005114326000093/0000051143-26-000093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51143/000005114326000093/ibm-20261021.htm
  HTML page:      https://secwatch.observer/filing/0000051143-26-000093

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