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Jun 30, 2020
IBM Q2 2020 Earnings Report
IBM's Q2 2020 earnings reflected accelerated cloud revenue growth, gross margin expansion, and a strong balance sheet and liquidity position.
Key Takeaways
IBM's second-quarter earnings showed a revenue of $18.1 billion, a decrease of 5.4 percent. However, the company saw growth in cloud revenue, which was up 30 percent, and an increase in GAAP gross profit margin, which rose by 100 basis points. The company's operating EPS was $2.18.
GAAP EPS from continuing operations was $1.52
Operating (non-GAAP) EPS was $2.18
Revenue was $18.1 billion, down 5.4 percent (down 1.9 percent adjusting for divested businesses and currency)
GAAP gross profit margin was 48 percent, up 100 basis points; Operating (non-GAAP) gross profit margin of 49 percent up 160 basis points
Forward Guidance
Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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