Core Insights - IBM reported strong fourth-quarter 2024 results, with adjusted earnings and revenues exceeding estimates, driven by solid demand for hybrid cloud and AI solutions [2][3] Financial Performance - Net income for Q4 2024 was 3.09 per share, down from 3.55 per share in the previous year due to high operating expenses [4] - For the full year 2024, net income was 6.43 per share, compared to 8.14 per share in 2023 [5] - Quarterly total revenues increased to 17.38 billion, with a 2% year-over-year increase on a constant currency basis [6] Segment Performance - Software segment revenues rose to 7.18 billion, with notable growth in Red Hat (up 17%), Automation (16%), and Data & AI (5%) [8] - Consulting segment revenues decreased to 5.28 billion, missing estimates due to clients prioritizing spending [9] - Infrastructure segment revenues fell to 4.6 billion, reflecting lower demand and higher investments in AI and hybrid cloud [10] Cash Flow & Liquidity - IBM generated 6.16 billion, up from 13.5 billion [13]
Why Is IBM (IBM) Down 2% Since Last Earnings Report?