IBM Exceeds Q3 Earnings and Revenue Estimates, Raises Free Cash Flow Guidance
IBM reported third-quarter financial results that surpassed analyst expectations for both earnings per share and total revenue. The company posted adjusted earnings of $2.95 per share against a consensus of $2.86, while revenue reached $17.10 billion, beating the projected $16.82 billion. Growth was driven largely by an 8% increase in software revenue, which totaled $7.80 billion. Despite the beat, IBM's adjusted gross margin of 58.5% fell slightly short of the expected 59.1%. However, management provided optimistic forward-looking guidance, forecasting that full-year free cash flow will increase by more than $1 billion. CEO Arvind Krishna highlighted the growing traction of 'Super Intelligence' as clients move toward transforming entire operating models through AI deployment.
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Topics: AI earnings beat free cash flow guidance revenue growth software revenue
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