In January, IBM had forecast adjusted earnings of “at least” $13.35 a share for 2020, while analysts expected $12.01 a share. In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (GAAP), the company has also disclosed in this press release the following non-GAAP information, which management believes provides useful information to investors: The rationale for management’s use of these non-GAAP measures is included in Exhibit 99.2 in the Form 8‑K that includes this press release and is being submitted today to the SEC. Stock charts. IBM Q2 2020 Earnings Call Jul 20, 2020, 5:00 p.m. Storage revenues grew 3% and sales of … Debt, including Global Financing debt of $20.9 billion, totaled $65.4 billion. IBM first-quarter earnings beat on the bottom line but missed on revenue, the computer giant said Monday, as it withdrew 2020 guidance due to the coronavirus pandemic. Sign up for free newsletters and get more CNBC delivered to your inbox. For 2019 … Systems revenue was $1.26 billion, down 15% and below the $1.55 billion consensus. Krishna announced a major change on Oct. 8, saying that the managed infrastructure services portion of IBM's Global Technology Services unit would become a standalone public company. The below graph represents the global revenue of IBM Corp., by quarter, starting from fiscal Q1 2005 to Q2 2020. During a conference call with analysts on the day of the announcement Krishna called said IBM expects to reach "sustainable mid-single digit revenue growth over the medium term.". (3) Represents the second-quarter 2020 impact of the deferred revenue purchase accounting adjustment and adjustments to add back revenue which was eliminated for sales between Red Hat and IBM. Oct. 19, 2020 4:13 PM ET International Business Machines Corporation (IBM) By: Gaurav Batavia, SA News Editor 57 Comments IBM (NYSE: IBM ) : … IBM’s free cash flow was $1.1 billion. Welcome, and thank you for standing by. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Shares of IBM fell 2.7% in extended trading on Monday after the company released third-quarter earnings that were in line with what analysts had expected. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-3q20. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including, but not limited to, the following: a downturn in economic environment and client spending budgets; the company’s failure to meet growth and productivity objectives; a failure of the company’s innovation initiatives; damage to the company’s reputation; risks from investing in growth opportunities; failure of the company’s intellectual property portfolio to prevent competitive offerings and the failure of the company to obtain necessary licenses; cybersecurity and data privacy considerations; fluctuations in financial results; the possibility that the proposed separation of the managed infrastructure services unit of the company’s Global Technology Services segment will not be completed within the anticipated time period or at all, the possibility of disruption or unanticipated costs in connection with the proposed separation or the possibility that the separation will not achieve its intended benefits; impact of local legal, economic, political, health and other conditions; adverse effects from environmental matters, tax matters and the company’s pension plans; ineffective internal controls; the company’s use of accounting estimates; impairment of the company’s goodwill or amortizable intangible assets; the company’s ability to attract and retain key employees and its reliance on critical skills; impacts of relationships with critical suppliers; product quality issues; impacts of business with government clients; currency fluctuations and customer financing risks; impact of changes in market liquidity conditions and customer credit risk on receivables; reliance on third party distribution channels and ecosystems; the company’s ability to successfully manage acquisitions, alliances and dispositions, including integration challenges, failure to achieve objectives, the assumption of liabilities, and higher debt levels; legal proceedings and investigatory risks; risk factors related to IBM securities; and other risks, uncertainties and factors discussed in the company’s Form 10-Qs, Form 10-K and in the company’s other filings with the U.S. Securities and Exchange Commission (SEC) or in materials incorporated therein by reference. As of Q4 2020, International Business Machines Corp's earnings has grown 2.54% year over year. On a stand-alone basis, Red Hat grew its revenue … Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. IBM revenue from Global Technology Services segment declined a notable 5.93% in Q1 2020, to $6,467 million. This decline in revenue was primarily driven by the 5.6% YoY decline in Infrastructure & Cloud Services revenue … adjusting for currency (i.e., at constant currency); total revenue and cloud revenue adjusting for divested businesses and currency; Red Hat revenue normalized for historical comparability; presenting operating (non-GAAP) earnings per share amounts and related income statement items; net cash from operating activities, excluding Global Financing receivables. IBM’s systems segment, which includes the new big iron, grew 16% year-over-year on greater than 60% growth in mainframe sales. Revenue for its third quarter of 2020 ended 30 September came in at $17.6bn, down 2.6 percent. Tech giant IBM Corp. on Monday said its third-quarter revenues and profit declined, hurt mainly by the disruption caused by the pandemic. Stock history. ET. Segment results reflect growing adoption of IBM's open hybrid cloud platform while clients continue to shift priorities to preserve cash and maintain operational stability. See the Q3 2020 Earnings Announcement Explore the 2019 Annual Report Earnings & financials. The adjusted EPS will likely rise by 7.1% in 2021 to $14.27 per share. Financial reporting. International Business Machines last posted its earnings data on October 19th, 2020. The below graph represents the global revenue of IBM Corp., by quarter, starting from fiscal Q1 2005 to Q2 2020. In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. Subscribe to Pro or Enterprise plans to unlock download access for all datasets. In the third quarter the Global Technology Services segment, IBM's largest, contributed $6.46 billion in revenue. International Business Machines Corp. On Apr 20, 2020, International Business Machines Corp (NYSE: IBM) reported Q1 2020 revenue of $17.57 billion up 3.36% year over year. In the third quarter, the company generated net cash from operating activities of $4.3 billion, or $1.9 billion excluding Global Financing receivables. IBM revenue from global business services amounted to $4,136 million during Q1 2020, with a flat 0.4% YoY growth. The pattern of declining revenue playing out under new CEO Arvind Krishna was often present during the tenure of his predecessor, Ginni Rometty. International Business Machines Corporation (IBM Quick Quote IBM - Free Report) reported third-quarter 2020 non-GAAP earnings of $2.58 per share, which surpassed the Zacks Consensus Estimate by 1.2%. IBM annual research and development expenses for 2019 were $5.989B, a 11.34% increase from 2018. IBM revenue for the quarter ending September 30, 2020 was $17.560B, a 2.6% decline year-over-year. The top-line, however, surpassed experts’ prediction, while earnings matched. Edward Barbini, 914‑499‑6565 Earnings Outlook IBM earnings: Chief executive’s first big move will be more scrutinized than the numbers Last Updated: Oct. 19, 2020 at 10:11 a.m. “IBM remains focused on helping our clients adapt to the immediate challenges of the COVID-19 pandemic, while we continue to enable them to shift their mission-critical workloads to hybrid cloud and expand their use of AI to help transform their operations," said Arvind Krishna, IBM chief executive officer. IBM: Revenue by Business Segment (2020) Download. Revenues for the six-month period ended June 30, 2020 totaled $35.7 billion, a decrease of 4 percent year to year (down 1 percent adjusting for divested businesses and … IBM unsure what 2020 will bring as revenues drop again in quarter. IBM research and development expenses for the twelve months ending September 30, 2020 were $6.318B, a 9.86% increase year-over-year. In the third quarter IBM announced the acquisition of WDG Automation, a Brazilian software company. A Division of NBCUniversal. IBM should be able to muster some revenue growth in 2020, thanks to Red Hat and the new mainframe. This statistic highlights IBM Revenue by business segment from the first quarter of 2016 (Q1 2016) to the last quarter of 2019 . The company is spinning out part of its Global Technology Services division into a new company. In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. IBM annual revenue for 2019 was $77.147B, a 3.07% decline from 2018. WATCH: Full interview with IBM CEO Arvind Krishna and Executive Chair Ginni Rometty. "We have the necessary financial flexibility to increase our investments in hybrid cloud and AI technology innovation and skills, while remaining committed to our long-standing dividend policy.”. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. IBM shares jumped about 6% in after-hours trading Monday after a second-quarter earnings report that was not quite as painful as Wall Street had feared, despite disruptions caused by … On Monday Krishna said that, based on feedback from shareholders, IBM plans to maintain its dividend and grow it. IBM 2Q 2020 Earnings Announcement Event July 20, 2020. email@example.com, John Bukovinsky, 732‑618‑3531 firstname.lastname@example.org, Strong Cloud Revenue Growth; Gross Margin Expansion; Solid Balance Sheet and Liquidity Position, IBM Launches New Innovative Capabilities for Watson, https://www.ibm.com/investor/events/earnings-3q20, IBM 3Q20 Earnings Press Release (includes financial tables), GAAP EPS from continuing operations of $1.89, Revenue of $17.6 billion, down 2.6 percent (down 3.1 percent adjusting for divested businesses and currency), Total cloud revenue of $6.0 billion, up 19 percent, Red Hat revenue up 17 percent (up 16 percent adjusting for currency), normalized for historical comparability, GAAP gross profit margin of 48 percent, up 180 basis points; Operating (non-GAAP) gross profit margin of 49 percent, up 160 basis points, Net cash from operating activities of $15.8 billion and free cash flow of $10.8 billion, over the last 12 months. 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