IBM Q1 revenue $14.3B (flat YoY); GAAP EPS $1.02, Non-GAAP $1.36; FY free cash flow target ~$10.5B

INTERNATIONAL BUSINESS MACHINES CORP

2023-Q1 EPS reported $1.01 revenue$14,252,000,000

Revenue $14.3B, up 0.4% as reported, +4.4% constant currency; Software +3%, Consulting +3%, Infrastructure -4%.
GAAP diluted EPS $1.02 (up 40% YoY); Non-GAAP operating EPS $1.36 (down 3% YoY).
Free cash flow $1.3B (up $0.1B); net cash from operations $3.8B (up $0.5B); returned $1.5B in dividends.
FY 2023 guidance: constant-currency revenue growth 3-5%; free cash flow about $10.5B, exceeding prior view.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INTERNATIONAL BUSINESS MACHINES CORP reported first-quarter 2023 results: revenue $14.3 billion, net income $0.9B, EPS $1.02. Guidance reaffirmed.

Period: first-quarter 2023
Revenue: $14.3 billion
Net income: $0.9B
EPS: $1.02
Guidance: reaffirmed
Result: reported results

Exact text from the filing

executive officer. "This gives us confidence in our current growth expectations for revenue and free cash flow for the year. ” First-Quarter Highlights ● Revenue − Revenue of $14.3 billion, up 0.4 percent, up 4.4 percent at constant currency − Software revenue up 3 percent, up 6 percent at constant currency − Consulting revenue up 3 percent, up 8 percent at

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Source: SEC EDGAR

accession 0001558370-23-006218

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