IBM Q3 2021 Earnings Report

Revenue performance was led by consulting and software, with solid cash generation.

Key Takeaways

IBM reported third-quarter results with revenue of $17.6 billion, up 0.3 percent. The company is making progress in its software and consulting businesses, which represent higher growth opportunities. IBM is confident in achieving its medium-term objectives of mid-single digit revenue growth and strong free cash flow generation.

Revenue of $17.6 billion, up 0.3 percent (down 0.2 percent adjusting for divested businesses and currency)

Cloud & Cognitive Software up 3 percent (up 2 percent adjusting for currency)

Global Business Services up 12 percent (up 11 percent adjusting for currency)

Red Hat revenue up 17 percent, normalized for historical comparability

Total Revenue

$17.6B

Previous year: $17.6B