IBM Q2 2022 Earnings Report
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.
IBM
IBM
IBM Revenue by Segment
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.