This decline in revenue was primarily driven by the 5.6% YoY decline in Infrastructure & Cloud Services revenue … The company returned $1.5 billion to shareholders in dividends. Financial reporting. “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of our open hybrid cloud platform,” said Arvind Krishna, IBM chief executive officer. IBM revenue for the twelve months ending September 30, 2020 was $75.030B, a 2.72% decline year-over-year. During a conference call with analysts on the day of the announcement Krishna called said IBM expects to reach "sustainable mid-single digit revenue growth over the medium term.". International Business Machines Corporation (IBM Quick Quote IBM - Free Report) reported third-quarter 2020 non-GAAP earnings of $2.58 per share, which surpassed the Zacks Consensus Estimate by 1.2%. “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of our open hybrid cloud platform," said Arvind Krishna, IBM chief executive officer. IBM … IBM research and development expenses for the twelve months ending September 30, 2020 were $6.318B, a 9.86% increase year-over-year. International Business Machines Corporation (IBM) is an American multinational technology and consulting company headquartered in Armonk, New York, with more than 350,000 employees serving clients in 170 countries.. On October 8, 2020 IBM announced it was spinning off the Managed Infrastructure Services unit of its Global Technology Services division into a new public company, an … Consolidated net income was $4.2 billion, down 27 percent year to year. Financial Results Below (certain amounts may not add due to use of rounded numbers; percentages presented are calculated from the underlying whole-dollar amounts). "Separating the managed infrastructure services business creates a market-leading standalone company and further sharpens our focus on IBM's open hybrid cloud platform and AI capabilities. In June 2020 quarter, IBM reported a 5.42% YoY decline in its quarterly revenue, amounting to $18,123 million, worldwide. In January, IBM had forecast adjusted earnings of “at least” $13.35 a share for 2020, while analysts expected $12.01 a share. International Business Machines Corp. beat analysts’ estimates for second-quarter revenue, with cloud sales helping offset coronavirus-fueled declines in … The company's free cash flow was $1.10 billion, below the FactSet consensus of $2.26 billion and the lowest since the first quarter of 2001, according to FactSet. International Business Machines last posted its earnings data on October 19th, 2020. The technology company reported $2.58 earnings per share for the quarter, meeting analysts' consensus estimates of $2.58. … Cloud and Cognitive Software, which includes Red Hat, delivered $5.55 billion in revenue, which is up 7% and above the $5.48 billion FactSet consensus. Analysts expect an adjusted EPS of $13.33 in 2020—up more than 4% YoY. This statistic highlights IBM Revenue by business segment from the first quarter of 2016 (Q1 2016) to the last quarter of 2019 . The company had been projecting full-year 2020 earnings per share of … Earnings … Any forward-looking statement in this release speaks only as of the date on which it is made. International Business Machines Corp. Presentation charts will be available shortly before the Webcast. Operating (non-GAAP) diluted earnings per share from continuing operations was $6.60 compared with $8.10 per diluted share for the 2019 period, a decrease of 19 percent. Tech giant IBM Corp. on Monday said its third-quarter revenues and profit declined, hurt mainly by the disruption caused by the pandemic. See all UBS Global TMT Virtual Conference. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-3q20. October 19, 2020 October 20, 2020. Not withstanding Monday's after-hours move, IBM shares are down 6% since the start of 2020. Full interview with IBM CEO Arvind Krishna and Executive Chair Ginni Rometty. IBM Strategic Update 2020 October 08, 2020 See event information Upcoming & Recent Events. As of Q4 2020, International Business Machines Corp's earnings has grown 2.54% year over year. IBM Q2 2020 Earnings Call Jul 20, 2020, 5:00 p.m. Latest annual report. “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of … In January, IBM had forecast adjusted earnings of “at least” $13.35 a share for 2020, while analysts expected $12.01 a share. IBM annual research and development expenses for 2018 were $5.379B, a 3.77% decline from 2017. Revenues for the nine-month period ended September 30, 2020 totaled $53.3 billion, a decrease of 4 percent year to year (down 2 percent adjusting for … IBM has posted another quarter of falling sales, and decided not to forecast what will happen over its next 90-day financial reporting period. IBM revenue from global business services amounted to $4,136 million during Q1 2020, with a flat 0.4% YoY growth. * IBM revenue by region Total revenue of $19,160 million decreased 4.2 % as reported and 2 % adjusted for currency in the second quarter compared to the prior year. The below graph represents the global revenue of IBM Corp., by quarter, starting from fiscal Q1 2005 to Q2 2020. This line represents revenue that would have been recognized by Red Hat under GAAP if the acquisition had not occurred, but was not recognized by IBM due to purchase accounting and intercompany adjustments. On Monday Krishna said that, based on feedback from shareholders, IBM plans to maintain its dividend and grow it. J.P. Morgan 48th Annual Technology, Media and & Communications Conference Event May 13, 2020. On Apr 20, 2020, International Business Machines Corp (NYSE: IBM) reported Q1 2020 revenue of $17.57 billion up 3.36% year over year. Segment results reflect growing adoption of IBM's open hybrid cloud platform while clients continue to shift priorities to preserve cash and maintain operational stability. IBM posted a third consecutive quarter of declining revenue. ARMONK, N.Y., Oct. 19, 2020 — IBM today announced third-quarter 2020 earnings results. IBM earnings call for the period ending September 30, 2020. A Division of NBCUniversal. The below graph represents the global revenue of IBM Corp., by quarter, starting from fiscal Q1 2005 to Q2 2020. (3) Represents the first-quarter 2020 impact of the deferred revenue purchase accounting adjustment and adjustments to add back revenue which was eliminated for sales between Red Hat and IBM. In the third quarter, the company generated net cash from operating activities of $4.3 billion, or $1.9 billion excluding Global Financing receivables. IBM today announced first-quarter 2020 earnings results. No, as per Trefis estimates IBM is expected to report a small decline of 0.8% y-o-y in FY 2020 and record revenue around $79.7 billion. This will accelerate our growth strategy and better position IBM to seize the $1 trillion hybrid cloud opportunity.”. Get this delivered to your inbox, and more info about our products and services. Dividends. Systems revenue was $1.26 billion, down 15% and below the $1.55 billion consensus. Revenues for the nine-month period ended September 30, 2020 totaled $53.3 billion, a decrease of 4 percent year to year (down 2 percent adjusting for divested businesses and currency) compared with $55.4 billion for the first nine months of 2019. International Business Machines Corporation (IBM) is an American multinational technology and consulting company headquartered in Armonk, New York, with more than 350,000 employees serving clients in 170 countries.. On October 8, 2020 IBM announced it was spinning off the Managed Infrastructure Services unit of its Global Technology Services division into a new public company, an … jbuko@us.ibm.com, Strong Cloud Revenue Growth; Gross Margin Expansion; Solid Balance Sheet and Liquidity Position, IBM Launches New Innovative Capabilities for Watson, https://www.ibm.com/investor/events/earnings-3q20, IBM 3Q20 Earnings Press Release (includes financial tables), GAAP EPS from continuing operations of $1.89, Revenue of $17.6 billion, down 2.6 percent (down 3.1 percent adjusting for divested businesses and currency), Total cloud revenue of $6.0 billion, up 19 percent, Red Hat revenue up 17 percent (up 16 percent adjusting for currency), normalized for historical comparability, GAAP gross profit margin of 48 percent, up 180 basis points; Operating (non-GAAP) gross profit margin of 49 percent, up 160 basis points, Net cash from operating activities of $15.8 billion and free cash flow of $10.8 billion, over the last 12 months. All Rights Reserved. adjusting for currency (i.e., at constant currency); total revenue and cloud revenue adjusting for divested businesses and currency; Red Hat revenue normalized for historical comparability; presenting operating (non-GAAP) earnings per share amounts and related income statement items; net cash from operating activities, excluding Global Financing receivables. Stock history. Oct. 19, 2020 4:13 PM ET International Business Machines Corporation (IBM) By: Gaurav Batavia, SA News Editor 57 Comments IBM (NYSE: IBM ) : … IBM unsure what 2020 will bring as revenues drop again in quarter. IBM annual revenue for 2018 was $79.591B, a 0.57% increase from 2017. Data Science Market Report(2020-2029): Market Insights, Revenue and SWOT Analysis | Microsoft Corporation, IBM Corporation eTN Managing Editor December 17, 2020 04:01 Print PDF … For 2019 … More than 2,600 clients are utilizing Red Hat and IBM’s hybrid cloud platform, at present. Sign up for free newsletters and get more CNBC delivered to your inbox. Today, IBM has laid the foundation for a new era of technology and business. Shares of IBM fell 2.7% in extended trading on Monday after the company released third-quarter earnings that were in line with what analysts had expected. Infographic: Highlights of IBM’s (IBM) Q3 2020 earnings report. In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (GAAP), the company has also disclosed in this press release the following non-GAAP information, which management believes provides useful information to investors: The rationale for management’s use of these non-GAAP measures is included in Exhibit 99.2 in the Form 8‑K that includes this press release and is being submitted today to the SEC. Debt, including Global Financing debt of $20.9 billion, totaled $65.4 billion. Revenue declined 2.5%, falling for the third consecutive quarter on an annualized basis, according to a statement. (3) Represents the second-quarter 2020 impact of the deferred revenue purchase accounting adjustment and adjustments to add back revenue which was eliminated for sales between Red Hat and IBM. ARMONK, N.Y.--IBM (NYSE: IBM) today announced third-quarter 2020 earnings results. "We have the necessary financial flexibility to increase our investments in hybrid cloud and AI technology innovation and skills, while remaining committed to our long-standing dividend policy.”. International Business Machines Corporation (IBM) revenue 2009-2020, by quarter; IBM's global revenue 2011-2019, by region ; IBM's net income worldwide 1999-2019; IBM's expenditure on … Got a confidential news tip? IBM revenue for the quarter ending September 30, 2020 was $17.560B, a 2.6% decline year-over-year. IBM Corp. just can’t get its revenue momentum going.The computer giant today said its third-quarter revenue fell, dragged down by weaknesses in its … Welcome, and thank you for standing by. Financial reporting. There are no consensus estimates for IBM's cloud sales for Q3, but its growth has accelerated dramatically in recent quarters, rising by 31.3% in Q2 2020 even as overall revenue declined. Revenue from Global Business Services totaled $3.97 billion, down 5% and more than the $3.90 billion consensus. Q1 revenue: $17.6 billion (-3.4% YoY, -19% QoQ, vs. $17.6 billion expected) Q1 earnings: $1.2 billion (-26% YoY, -68% QoQ) Q2 guidance: Like many companies, IBM is no longer providing guidance for the rest of the year due to the impact of COVID-19. Surprisingly, the company's global revenue declined YoY for the second quarter in a row. Revenues for the nine-month period ended September 30, 2020 totaled $53.3 billion, a decrease of 4 percent year to year (down 2 percent adjusting for divested businesses and currency) compared with $55.4 billion for the first nine months of 2019. On Apr 20, 2020, International Business Machines Corp (NYSE: IBM) reported Q1 2020 revenue of $17.57 billion up 3.36% year over year. IBM first-quarter earnings beat on the bottom line but missed on revenue, the computer giant said Monday, as it withdrew 2020 guidance due to the coronavirus pandemic. IBM today announced third-quarter 2020 earnings results. In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. "Our clients see the value of IBM’s hybrid cloud platform, based on open technologies, at a time of unprecedented business disruption," said Arvind Krishna, IBM chief executive officer. View the latest IBM financial statements, income statements and financial ratios. 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