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Mar 31, 2020
IBM Q1 2020 Earnings Report
IBM's first-quarter results for 2020 reflected the impact of items related to the Red Hat acquisition and showed continued cloud revenue growth, gross margin expansion and a strong balance sheet.
Key Takeaways
IBM reported first-quarter 2020 earnings with a revenue of $17.6 billion, a decrease of 3.4 percent. The diluted EPS was $1.31, and the operating (non-GAAP) EPS was $1.84. Total cloud revenue was $5.4 billion, up 19 percent. IBM is withdrawing its full-year 2020 guidance due to the COVID-19 crisis.
GAAP EPS from continuing operations was $1.31.
Operating (non-GAAP) EPS was $1.84.
Revenue was $17.6 billion, down 3.4 percent (up 0.1 percent adjusting for divested businesses and currency).
Total cloud revenue was $5.4 billion, up 19 percent (up 23 percent adjusting for divested businesses and currency).
Forward Guidance
IBM is withdrawing its full-year 2020 guidance in light of the current COVID-19 crisis. The company will reassess this position based on the clarity of the macroeconomic recovery at the end of the second quarter.
Historical Earnings Impact
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