Financial Performance - IBM's Q1 2024 revenue grew by 3% to $14.5 billion[31], with Americas revenue at $7.3 billion[31], Europe/ME/Africa at $4.3 billion[31], and Asia Pacific at $2.9 billion[31] - The company's operating gross profit margin expanded by 100 basis points to 54.7%[31], and operating pre-tax margin expanded by 130 basis points[18] - Free cash flow for the quarter was $1.9 billion[18], a year-over-year increase of $0.6 billion[18] - Adjusted EBITDA reached $3.0 billion[31], a 7% increase year-over-year[31] Segment Performance - Software revenue increased by 6% to $5.9 billion[20], driven by Hybrid Platform & Solutions which grew by 7%[20] and Transaction Processing which grew by 4%[20] - Consulting revenue grew by 2% to $5.2 billion[22], with a book-to-bill ratio of over 1.15 for the last year[21] - Infrastructure revenue was flat at $3.1 billion[23], with Hybrid Infrastructure growing by 6%[23] Strategic Initiatives - IBM announced its intent to acquire HashiCorp to strengthen its hybrid cloud and AI platform[6] - The book of business for watsonx and generative AI has surpassed $1 billion since its launch in mid-2023[6] Outlook - IBM expects full-year revenue growth in line with its mid-single-digit model and free cash flow of approximately $12 billion[6]

IBM (IBM) reported $14.46 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.5%. EPS of $1.68 for the same period compares to $1.36 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $14.57 billion, representing a surprise of -0.75%. The company delivered an EPS surprise of +5.66%, with the consensus EPS estimate being $1.59.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they c ...

IBM (IBM) came out with quarterly earnings of $1.68 per share, beating the Zacks Consensus Estimate of $1.59 per share. This compares to earnings of $1.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.66%. A quarter ago, it was expected that this technology and consulting company would post earnings of $3.78 per share when it actually produced earnings of $3.87, delivering a surprise of 2.38%.Over the last four quarters, t ...

Core Insights - IBM reported Q1 financial results with revenue of $14.46 billion, slightly below the expected $14.54 billion, while operating earnings per share were $1.68, exceeding the forecast of $1.59 [1][5] - The company's software revenue increased by 5% to $5.90 billion, driven by strong demand for AI solutions [1][5] - CEO Arvind Krishna highlighted the growth in free cash flow and the success of the watsonx platform, which has surpassed $1 billion in revenue since its launch [1][3] Financial Performance - Net income rose year-over-year to $1.6 billion [5] - Infrastructure revenue exceeded expectations at $3.08 billion, compared to the estimated $2.94 billion [5] - Consulting revenue was reported at $5.19 billion, slightly lower than the expected $5.10 billion [5] Strategic Developments - IBM is expanding its AI offerings with the introduction of Meta Llama 3 to the watsonx platform [4] - The company plans to acquire HashiCorp for $6.4 billion to strengthen its position in hybrid cloud and AI [4] - The growth in IBM's generative AI segment is expected to significantly increase earnings in the coming quarters [3] Market Reaction - Following the earnings report, IBM's stock fell over 7% in after-hours trading to $171.85, despite a year-to-date increase of 12.4% and a 35% rise over the last six months [6] - The CEO remains optimistic about 2024, projecting $12 billion in free cash flow and revenue growth in line with mid-single digit expectations [6]

Exhibit 99.1 IBM RELEASES FIRST-QUARTER RESULTS Accelerated Software revenue growth; Strong gross margin expansion and cash generation Announces strategic acquisition of HashiCorp, Inc. ARMONK, N.Y., April 24, 2024 . . . IBM (NYSE: IBM) today announced first-quarter 2024 earnings results. “We began the year with solid revenue and free cash flow growth, reflecting the strength of our hybrid cloud and AI strategy. We continue to capitalize on the excitement and demand for enterprise AI from our clients. Our b ...

$6.4 billion acquisition adds suite of leading hybrid and multi-cloud lifecycle management products to help clients grappling with today's AI-driven application growth and complexity HashiCorp's capabilities to drive significant synergies across multiple strategic growth areas for IBM, including Red Hat, watsonx, data security, IT automation and Consulting As a part of IBM, HashiCorp is expected to accelerate innovation and enhance its go-to-market, growth and monetization initiatives Transaction expected ...

Investors are always looking for stocks that are poised to beat at earnings season and International Business Machines Corporation (IBM) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because International Business Machinesis seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to- ...

International Business Machines Corporation (IBM) is scheduled to report first-quarter 2024 results on Apr 24, after the closing bell. The company is expected to have registered higher revenues from the consulting segment, backed by rising demand for technology consulting services across various industries.Factors at PlayThe Consulting segment comprises Business Transformation, Technology Consulting and Application Operations. It provides consulting and application management services that offer value and i ...

International Business Machines Corporation (IBM) is scheduled to report first-quarter 2024 results on Apr 24, after the closing bell. In the to-be-reported quarter, the company is likely to have recorded higher revenues from the Software segment backed by growing demand for its advanced AI-driven solutions and product innovation.Factors at PlayThe Software segment includes Hybrid Platform & Solutions comprising software services, Red Hat, automation and data & artificial intelligence (AI) businesses and Tr ...

IBM (NYSE: IBM) stock price has pulled back sharply in the past few weeks as the recent bull run fades. It has retreated in the past four straight weeks and moved to its lowest point since February 20th. That means that the stock has plunged by over 8.75% from its highest level this year, meaning that it is nearing moving into a correction. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.IBM earnings previewCopy link to sectionIBM is bracing for a hig ...