The top-line, however, surpassed experts’ prediction, while earnings matched. IBM expects its 2020 non-GAAP earnings to be at least $13.35 per share. In June 2020 quarter, IBM reported a 5.42% YoY decline in its quarterly revenue, amounting to $18,123 million, worldwide. IBM (NYSE:IBM) reports Q3 results with revenue down 3% Y/Y to $17.56B, matching consensus estimates but marking the third straight quarter of revenue declines. Financial Results Below (certain amounts may not add due to use of rounded numbers; percentages presented are calculated from the underlying whole-dollar amounts). Stock history. At that time IBM issued preliminary results, saying it expected $2.58 in adjusted earnings per share on $17.6 billion in revenue. Tech giant IBM Corp. on Monday said its third-quarter revenues and profit declined, hurt mainly by the disruption caused by the pandemic. IBM’s regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. EDT, today. The pattern of declining revenue playing out under new CEO Arvind Krishna was often present during the tenure of his predecessor, Ginni Rometty. IBM ended the third quarter with $15.8 billion of cash on hand which includes marketable securities, up $6.7 billion from year-end 2019. View the latest IBM financial statements, income statements and financial ratios. This decline in revenue was primarily driven by the 5.6% YoY decline in Infrastructure & Cloud Services revenue … IBM annual revenue for 2018 was $79.591B, a 0.57% increase from 2017. Earnings International Business Machines (NYSE:IBM) Earnings Information. J.P. Morgan 48th Annual Technology, Media and & Communications Conference Event May 13, 2020. There are no consensus estimates for IBM's cloud sales for Q3, but its growth has accelerated dramatically in recent quarters, rising by 31.3% in Q2 2020 even as overall revenue declined. IBM unsure what 2020 will bring as revenues drop again in quarter. Get this delivered to your inbox, and more info about our products and services. The sales will likely rise by 1.7% in 2021 to $80.7 billion. See the Q3 2020 Earnings Announcement Explore the 2019 Annual Report Earnings & financials. Revenue declined 2.5%, falling for the third consecutive quarter on an annualized basis, according to a statement. Q1 revenue: $17.6 billion (-3.4% YoY, -19% QoQ, vs. $17.6 billion expected) Q1 earnings: $1.2 billion (-26% YoY, -68% QoQ) Q2 guidance: Like many companies, IBM is no longer providing guidance for the rest of the year due to the impact of COVID-19. "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.”. Revenue for its third quarter of 2020 ended 30 September came in at $17.6bn, down 2.6 percent. IBM unsure what 2020 will bring as revenues drop again in quarter Though revenue was down, Big Blue narrowly beat industry expectations. Stock history. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. “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. The company is spinning out part of its Global Technology Services division into a new company. International Business Machines Corp. 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. Latest annual report. (3) Represents the first-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. IBM pulled its full-year guidance in April. * IBM revenue by region Total revenue of $19,160 million decreased 4.2 % as reported and 2 % adjusted for currency in the second quarter compared to the prior year. IBM revenue for the quarter ending September 30, 2020 was $17.560B, a 2.6% decline year-over-year. IBM (NYSE: IBM) today announced third-quarter 2020 earnings results. Year-to-date results reflect transaction-related impacts associated with the Red Hat acquisition, which closed in July 2019. IBM's cloud revenue encompasses all cloud-related revenue generated across its reportable segments. Forward-Looking and Cautionary Statements. This will accelerate our growth strategy and better position IBM to seize the $1 trillion hybrid cloud opportunity.”. IBM … On Apr 20, 2020, International Business Machines Corp (NYSE: IBM) reported Q1 2020 revenue of $17.57 billion up 3.36% year over year. 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. A Division of NBCUniversal. 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. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-3q20. Presentation charts will be available shortly before the Webcast. IBM posted a third consecutive quarter of declining revenue. Operating (non-GAAP) diluted earnings per share from continuing operations was $6.60 compared with $8.10 per diluted share for the 2019 period, a decrease of 19 percent. On Monday Krishna said that, based on feedback from shareholders, IBM plans to maintain its dividend and grow it. International Business Machines Corporation (IBM) is an American multinational technology and consulting company headquartered in Armonk, New York, with more than 350,000 employees serving clients in 170 countries.. On October 8, 2020 IBM announced it was spinning off the Managed Infrastructure Services unit of its Global Technology Services division into a new public company, an … Operating (non-GAAP) net income for the nine months ended September 30, 2020 was $5.9 billion compared with $7.2 billion in the prior-year period, a decrease of 18 percent. Surprisingly, the company's global revenue declined YoY for the second quarter in a row. IBM revenue for the twelve months ending September 30, 2020 was $75.030B, a 2.72% decline year-over-year. We want to hear from you. Dividends. 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. Systems revenue was $1.26 billion, down 15% and below the $1.55 billion consensus. PNG; XLSX ; PDF; Subscribe to Pro or Enterprise plans to unlock download access for all datasets. Sign up for free newsletters and get more CNBC delivered to your inbox. In the third quarter the Global Technology Services segment, IBM's largest, contributed $6.46 billion in revenue. Financial reporting. In third-quarter 2020, revenues from Red Hat soared 16% on a normalized basis. Contacts: Annual stock financials by MarketWatch. Analysts expect an adjusted EPS of $13.33 in 2020—up more than 4% YoY. IBM’s free cash flow was $1.1 billion. © 2020 CNBC LLC. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. See all UBS Global TMT Virtual Conference. That's up 3% and barely above than the $5.74 billion FactSet consensus. Earnings … Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. Fourth-quarter earningsof $4.71 per share beat analysts’ expectations of of $4.69, while revenue of $21.78 billion squeaked past estimates of $21.62. ET. Highlights for the third quarter include: “In the third quarter we continued to deliver strong gross profit margin expansion, generated solid free cash flow and maintained a sound capital structure with ample liquidity," said James Kavanaugh, IBM senior vice president and chief financial officer. Got a confidential news tip? (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. ARMONK, N.Y.--IBM (NYSE: IBM) today announced third-quarter 2020 earnings results. IBM has generated $12.81 earnings per share over the past year and currently has a price-earnings ratio of 14.3. That's down 4% year over year and higher than the FactSet consensus estimate of $6.25 billion. The company's free cash flow was $1.10 billion, below the FactSet consensus of $2.26 billion and the lowest since the first quarter of 2001, according to FactSet. Welcome, and thank you for standing by. barbini@us.ibm.com, John Bukovinsky, 732‑618‑3531 “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of … In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. 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. ARMONK, N.Y., Oct. 19, 2020 — IBM today announced third-quarter 2020 earnings results. In January, IBM had forecast adjusted earnings of “at least” $13.35 a share for 2020, while analysts expected $12.01 a share. No, as per Trefis estimates IBM is expected to report a small decline of 0.8% y-o-y in FY 2020 and record revenue around $79.7 billion. Dividends. IBM’s systems segment, which includes the new big iron, grew 16% year-over-year on greater than 60% growth in mainframe sales. Analysts expect IBM’s revenues to rise by 2.8% in 2020 to $79.3 billion. In the third quarter IBM announced the acquisition of WDG Automation, a Brazilian software company. Financial reporting. 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.". “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of our open hybrid cloud platform,” said Arvind Krishna, IBM chief executive officer. The company returned $1.5 billion to shareholders in dividends. 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. "Our clients see the value of IBM’s hybrid cloud platform, based on open technologies, at a time of unprecedented business disruption," said Arvind Krishna, IBM chief executive officer. The company had been projecting full-year 2020 earnings per share of … As of Q4 2020, International Business Machines Corp's earnings has grown 2.54% year over year. At that time IBM issued preliminary results, saying it expected $2.58 in adjusted earnings per share on $17.6 billion in revenue. Though revenue was down, Big Blue narrowly beat industry expectations. Storage revenues grew 3% and sales of … The below graph represents the global revenue of IBM Corp., by quarter, starting from fiscal Q1 2005 to Q2 2020. On Monday, IBM also withdrew its full-year 2020 guidance because of uncertainty surrounding coronavirus. WATCH: Full interview with IBM CEO Arvind Krishna and Executive Chair Ginni Rometty. IBM research and development expenses for the twelve months ending September 30, 2020 were $6.318B, a 9.86% increase year-over-year. Stock charts. IBM annual revenue for 2019 was $77.147B, a 3.07% decline from 2018. Oct. 19, 2020 4:13 PM ET International Business Machines Corporation (IBM) By: Gaurav Batavia, SA News Editor 57 Comments IBM (NYSE: IBM ) : … “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of … Data is a real-time snapshot *Data is delayed at least 15 minutes. This line represents revenue that would have been recognized by Red Hat under GAAP if the acquisition had not occurred, but was not recognized by IBM due to purchase accounting and … Total revenue fell 2.6pc in Q3 2020 to $17.6bn, slightly above analysts’ forecasts, while revenue from the cloud and cognitive software unit was up 7pc to $5.6bn. Earnings … In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. Today, IBM has laid the foundation for a new era of technology and business. For 2019 we estimate IBM… Today, IBM has laid the foundation for a new era of technology and business. In January, IBM had forecast adjusted earnings of “at least” $13.35 a share for 2020, while analysts expected $12.01 a share. For 2019 … Stock charts. IBM revenue from Global Technology Services segment declined a notable 5.93% in Q1 2020, to $6,467 million. (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. October 19, 2020 October 20, 2020. International Business Machines Corp. beat analysts’ estimates for second-quarter revenue, with cloud sales helping offset coronavirus-fueled declines in … 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. All Rights Reserved. Except as required by law, the company assumes no obligation to update or revise any forward-looking statements. Total revenue for the year to date has reached $53.3bn, a four percent year-to-year dip. On Apr 20, 2020, International Business Machines Corp (NYSE: IBM) reported Q1 2020 revenue of $17.57 billion up 3.36% year over year. Any forward-looking statement in this release speaks only as of the date on which it is made. As mentioned, it grew 31.3% in Q2 2020, the … IBM: Revenue by Business Segment (2020) Download. International Business Machines Corporation (IBM) revenue 2009-2020, by quarter; IBM's global revenue 2011-2019, by region ; IBM's net income worldwide 1999-2019; IBM's expenditure on … Consolidated net income was $4.2 billion, down 27 percent year to year. jbuko@us.ibm.com, 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. IBM 2Q 2020 Earnings Announcement Event July 20, 2020. See the Q3 2020 Earnings Announcement Explore the 2019 Annual Report Earnings & financials. 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 Q2 2020 Earnings Call Jul 20, 2020, 5:00 p.m. 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%. Not withstanding Monday's after-hours move, IBM shares are down 6% since the start of 2020. The Q3 earnings report will be published on Monday, October 19, 2020. Debt, including Global Financing debt of $20.9 billion, totaled $65.4 billion. Subscribe to Pro or Enterprise plans to unlock download access for all datasets. More than 2,600 clients are utilizing Red Hat and IBM’s hybrid cloud platform, at present. PNG; XLSX; PDF; About. The technology company reported $2.58 earnings per share for the quarter, meeting analysts' consensus estimates of $2.58. 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%. The coronavirus pandemic has challenged IBM, among other companies, in part because of exposure to industries such as retail and transportation that the pandemic interrupted. 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 … Red Hat revenue … International Business Machines last posted its earnings data on October 19th, 2020. Consolidated diluted earnings per share was $4.72 compared with $6.45 per diluted share for the 2019 period, a decrease of 27 percent. Edward Barbini, 914‑499‑6565 No, as per Trefis estimates IBM is expected to report a small decline of 0.8% y-o-y in FY 2020 and record revenue around $79.7 billion. Presentation of Information in this Press Release. Peeking ahead, IBM’s adjusted fiscal 2020 EPS figure is expected to slip 4.8%, on 2.6% lower revenue. “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of our open hybrid cloud platform," said Arvind Krishna, IBM chief executive officer. IBM today announced third-quarter 2020 earnings results. Revenues for the nine-month period ended September 30, 2020 totaled $53.3 billion, a decrease of 4 percent year to year (down 2 percent adjusting for divested businesses and currency) compared with $55.4 billion for the first nine months of 2019. IBM should be able to muster some revenue growth in 2020, thanks to Red Hat and the new mainframe. In the third quarter, the company generated net cash from operating activities of $4.3 billion, or $1.9 billion excluding Global Financing receivables. 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. The S&P 500 index is up about 6% over the same period. IBM Corp. just can’t get its revenue momentum going.The computer giant today said its third-quarter revenue fell, dragged down by weaknesses in its … Ibm issued preliminary results, saying it expected $ 2.58 to forecast will. Global Financing debt of $ 13.33 in 2020—up more than 4 % year over year: interview... Edt, today fiscal Q1 2005 to Q2 2020 billion FactSet consensus estimate $! 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