IBM’s regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. EDT, today. Subscribe to Pro or Enterprise plans to unlock download access for all datasets. 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. International Business Machines last posted its earnings data on October 19th, 2020. See all UBS Global TMT Virtual Conference. This will accelerate our growth strategy and better position IBM to seize the $1 trillion hybrid cloud opportunity.”. 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.". Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. IBM should be able to muster some revenue growth in 2020, thanks to Red Hat and the new mainframe. IBM annual revenue for 2019 was $77.147B, a 3.07% decline from 2018. IBM Strategic Update 2020 October 08, 2020 See event information Upcoming & Recent Events. barbini@us.ibm.com, John Bukovinsky, 732‑618‑3531 Peeking ahead, IBM’s adjusted fiscal 2020 EPS figure is expected to slip 4.8%, on 2.6% lower revenue. On a stand-alone basis, Red Hat grew its revenue … Welcome, and thank you for standing by. IBM annual research and development expenses for 2018 were $5.379B, a 3.77% decline from 2017. The top-line, however, surpassed experts’ prediction, while earnings matched. Surprisingly, the company's global revenue declined YoY for the second quarter in a row. IBM revenue from global business services amounted to $4,136 million during Q1 2020, with a flat 0.4% YoY growth. * 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. On Monday Krishna said that, based on feedback from shareholders, IBM plans to maintain its dividend and grow it. We want to hear from you. At that time IBM issued preliminary results, saying it expected $2.58 in adjusted earnings per share on $17.6 billion in revenue. Consolidated diluted earnings per share was $4.72 compared with $6.45 per diluted share for the 2019 period, a decrease of 27 percent. Latest annual report. “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of … 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. The below graph represents the global revenue of IBM Corp., by quarter, starting from fiscal Q1 2005 to Q2 2020. 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). That's down 4% year over year and higher than the FactSet consensus estimate of $6.25 billion. Any forward-looking statement in this release speaks only as of the date on which it is made. ET. IBM (NYSE: IBM) today announced third-quarter 2020 earnings results. (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 revenue for the twelve months ending September 30, 2020 was $75.030B, a 2.72% decline year-over-year. The Q3 earnings report will be published on Monday, October 19, 2020. The sales will likely rise by 1.7% in 2021 to $80.7 billion. IBM 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. Presentation charts will be available shortly before the Webcast. That helped offset revenue declines in the tech support units Global Business Services and Global Technology Services, which account for about 56% of IBM’s total revenue. 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 intercompany adjustments. IBM’s free cash flow was $1.1 billion. 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 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 is spinning out part of its Global Technology Services division into a new company. 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 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 … The big number: After a rare quarter of revenue growth in the fourth quarter of 2019, IBM revenue fell 3.4%, which has been a steady pattern … Oct. 19, 2020 4:13 PM ET International Business Machines Corporation (IBM) By: Gaurav Batavia, SA News Editor 57 Comments IBM (NYSE: IBM ) : … "Separating the managed infrastructure services business creates a market-leading standalone company and further sharpens our focus on IBM's open hybrid cloud platform and AI capabilities. BofA Securities Global Technology Conference Event June 03, 2020. 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. 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 … Except as required by law, the company assumes no obligation to update or revise any forward-looking statements. 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 today announced third-quarter 2020 earnings results. 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. ARMONK, N.Y.--IBM (NYSE: IBM) today announced third-quarter 2020 earnings results. In June 2020 quarter, IBM reported a 5.42% YoY decline in its quarterly revenue, amounting to $18,123 million, worldwide. PNG; XLSX ; PDF; Subscribe to Pro or Enterprise plans to unlock download access for all datasets. IBM expects its 2020 non-GAAP earnings to be at least $13.35 per share. Surprisingly, the company's global revenue declined YoY for the second quarter in a row. At that time IBM issued preliminary results, saying it expected $2.58 in adjusted earnings per share on $17.6 billion in revenue. 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. 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 … Revenue from Global Business Services totaled $3.97 billion, down 5% and more than the $3.90 billion consensus. Debt, including Global Financing debt of $20.9 billion, totaled $65.4 billion. The below graph represents the global revenue of IBM Corp., by quarter, starting from fiscal Q1 2005 to Q2 2020. IBM earnings call for the period ending September 30, 2020. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-3q20. Get this delivered to your inbox, and more info about our products and services. 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. 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 pulled its full-year guidance in April. IBM: Revenue by Business Segment (2020) Download. In the third quarter the Global Technology Services segment, IBM's largest, contributed $6.46 billion in revenue. Stock charts. 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. Revenue declined 2.5%, falling for the third consecutive quarter on an annualized basis, according to a statement. IBM's cloud revenue encompasses all cloud-related revenue generated across its reportable segments. IBM's Cloud and Cognitive Software segment, which includes Red Hat, produced $5.75 billion in revenue. ARMONK, N.Y., Oct. 19, 2020 — IBM today announced third-quarter 2020 earnings results. Earnings … Data Science Market Report(2020-2029): Market Insights, Revenue and SWOT Analysis | Microsoft Corporation, IBM Corporation eTN Managing Editor December 17, 2020 04:01 Print PDF … Today, IBM has laid the foundation for a new era of technology and business. Earnings … 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 … “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 annual revenue for 2018 was $79.591B, a 0.57% increase from 2017. 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. In January, IBM had forecast adjusted earnings of “at least” $13.35 a share for 2020, while analysts expected $12.01 a share. 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 … In the third quarter IBM announced the acquisition of WDG Automation, a Brazilian software company. “The strong performance of our cloud business, led by Red Hat, underscores the gr 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 2Q 2020 Earnings Announcement Event July 20, 2020. Cloud and Cognitive Software, which includes Red Hat, delivered $5.55 billion in revenue, which is up 7% and above the $5.48 billion FactSet consensus. On Apr 20, 2020, International Business Machines Corp (NYSE: IBM) reported Q1 2020 revenue of $17.57 billion up 3.36% year over year. (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. In January, IBM had forecast adjusted earnings of “at least” $13.35 a share for 2020, while analysts expected $12.01 a share. “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of … IBM unsure what 2020 will bring as revenues drop again in quarter. 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 Apr 20, 2020, International Business Machines Corp (NYSE: IBM) reported Q1 2020 revenue of $17.57 billion up 3.36% year over year. IBM (NYSE: IBM) today announced second-quarter 2020 earnings results. More than 2,600 clients are utilizing Red Hat and IBM’s hybrid cloud platform, at present. IBM posted a third consecutive quarter of declining revenue. IBM Q2 2020 Earnings Call Jul 20, 2020, 5:00 p.m. Infographic: Highlights of IBM’s (IBM) Q3 2020 earnings report. 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. (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. The company returned $1.5 billion to shareholders in dividends. 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. IBM has generated $12.81 earnings per share over the past year and currently has a price-earnings ratio of 14.3. 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 … Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Today, IBM has laid the foundation for a new era of technology and business. That's up 3% and barely above than the $5.74 billion FactSet consensus. Presentation of Information in this Press Release. On Monday, IBM also withdrew its full-year 2020 guidance because of uncertainty surrounding coronavirus. 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. Though revenue was down, Big Blue narrowly beat industry expectations. The company had been projecting full-year 2020 earnings per share of … Nearly half of that came from the IBM’s consulting services. "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. International Business Machines Corp. The adjusted EPS will likely rise by 7.1% in 2021 to $14.27 per share. In June 2020 quarter, IBM reported a 5.42% YoY decline in its quarterly revenue, amounting to $18,123 million, worldwide. 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. Got a confidential news tip? Tech giant IBM Corp. on Monday said its third-quarter revenues and profit declined, hurt mainly by the disruption caused by the pandemic. … Dividends. Stock history. IBM annual research and development expenses for 2019 were $5.989B, a 11.34% increase from 2018. 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. See the Q3 2020 Earnings Announcement Explore the 2019 Annual Report Earnings & financials. The pattern of declining revenue playing out under new CEO Arvind Krishna was often present during the tenure of his predecessor, Ginni Rometty. This statistic highlights IBM Revenue by business segment from the first quarter of 2016 (Q1 2016) to the last quarter of 2019 . Stock charts. See the Q3 2020 Earnings Announcement Explore the 2019 Annual Report Earnings & financials. As mentioned, it grew 31.3% in Q2 2020, the … IBM unsure what 2020 will bring as revenues drop again in quarter Though revenue was down, Big Blue narrowly beat industry expectations. All Rights Reserved. J.P. Morgan 48th Annual Technology, Media and & Communications Conference Event May 13, 2020. Consolidated net income was $4.2 billion, down 27 percent year to year. IBM research and development expenses for the twelve months ending September 30, 2020 were $6.318B, a 9.86% increase year-over-year. Financial reporting. Stock history. 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. The company did not issue new guidance on Monday. In third-quarter 2020, revenues from Red Hat soared 16% on a normalized basis. In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. Year-to-date results reflect transaction-related impacts associated with the Red Hat acquisition, which closed in July 2019. What was IBM's earnings growth in the past year? "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. A Division of NBCUniversal. International Business Machines Corp. beat analysts’ estimates for second-quarter revenue, with cloud sales helping offset coronavirus-fueled declines in … 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 … 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 … Not withstanding Monday's after-hours move, IBM shares are down 6% since the start of 2020. For 2019 we estimate IBM… “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. Forward-Looking and Cautionary Statements. Full interview with IBM CEO Arvind Krishna and Executive Chair Ginni Rometty. IBM … Financial reporting. Edward Barbini, 914‑499‑6565 Annual stock financials by MarketWatch. (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. 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. The technology company reported $2.58 earnings per share for the quarter, meeting analysts' consensus estimates of $2.58. In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. IBM today announced third-quarter 2020 earnings results. Storage revenues grew 3% and sales of … 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. IBM revenue for the quarter ending September 30, 2020 was $17.560B, a 2.6% decline year-over-year. IBM earnings call for the period ending September 30, 2020. 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. View the latest IBM financial statements, income statements and financial ratios. 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. 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. WATCH: Full interview with IBM CEO Arvind Krishna and Executive Chair Ginni Rometty. October 19, 2020 October 20, 2020. The S&P 500 index is up about 6% over the same period. Earnings International Business Machines (NYSE:IBM) Earnings Information. ET First Published: Oct. 16, 2020 … This decline in revenue was primarily driven by the 5.6% YoY decline in Infrastructure & Cloud Services revenue … 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 has posted another quarter of falling sales, and decided not to forecast what will happen over its next 90-day financial reporting period. IBM’s systems segment, which includes the new big iron, grew 16% year-over-year on greater than 60% growth in mainframe sales. IBM today announced first-quarter 2020 earnings results. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. IBM revenue from Global Technology Services segment declined a notable 5.93% in Q1 2020, to $6,467 million. Red Hat revenue … Contacts: Sign up for free newsletters and get more CNBC delivered to your inbox. Data is a real-time snapshot *Data is delayed at least 15 minutes. As of Q4 2020, International Business Machines Corp's earnings has grown 2.54% year over year. Shortly before the Webcast dividend and grow it prediction, while earnings matched 2,600 clients are utilizing Red acquisition... Of 2019 free newsletters and get more CNBC delivered to your inbox time! 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