IBM Q1 2021 Earnings Report
Key Takeaways
IBM reported a 1% increase in revenue to $17.7 billion, driven by growth in cloud and cognitive software, systems, and global business services. The company's GAAP EPS was $1.06, and operating EPS was $1.77. IBM's cloud revenue increased by 21% to $6.5 billion, and the company generated $2.2 billion in adjusted free cash flow.
GAAP EPS from continuing operations was $1.06; Operating (non-GAAP) EPS was $1.77.
Revenue reached $17.7 billion, up 1 percent (down 2 percent adjusting for currency).
Total cloud revenue was $6.5 billion, up 21 percent (up 18 percent adjusting for divested businesses and currency).
Red Hat revenue increased by 17 percent (up 15 percent adjusting for currency), normalized for historical comparability.
IBM
IBM
IBM Revenue by Segment
Forward Guidance
IBM expects to grow revenue for the full year 2021 and adjusted free cash flow of $11 billion to $12 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income