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Jun 30, 2022
IBM Q2 2022 Earnings Report
IBM's Q2 2022 earnings were released, demonstrating growth across key segments due to hybrid cloud adoption and strong cash and profit generation.
Key Takeaways
IBM reported a revenue of $15.5 billion, up 9 percent year-over-year, driven by strong demand for hybrid cloud and AI offerings. The company's diluted EPS was $1.61, and operating non-GAAP diluted EPS was $2.31. IBM continues to expect full-year revenue growth at the high end of its mid-single digit model and about $10 billion in consolidated free cash flow.
Revenue increased by 9 percent year-over-year to $15.5 billion, with a 16 percent increase at constant currency.
Software revenue was up 6 percent, and consulting revenue increased by 10 percent.
Infrastructure revenue grew by 19 percent.
GAAP diluted EPS from continuing operations was $1.61, while operating non-GAAP diluted EPS was $2.31.
Forward Guidance
IBM continues to expect constant currency revenue growth at the high end of its mid-single digit model. The company also expects an additional 3.5 point contribution from incremental sales to Kyndryl. The company now expects about $10 billion in consolidated free cash flow.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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