IBM Corp (NYSE:IBM) is at the bottom of the Dow today, last seen down 8.7% to trade at $167.95. There's a lot to unpack from Big Blue's quarterly report; first-quarter earnings topped estimates, but revenue fell short. The tech titan cited foreign exchange as a headwind for the rest of 2024, and agreed to buy cloud company HashiCorp (HCP) for $6.4 billion, or $35 per share. At least four price-target cuts followed, the worst coming from J.P. Morgan Securities to $185 from $190. Wedbush, meanwhile, hiked its ...

New program increases the lifetime of storage investments with purchase protection and flexibility New IBM Flash Grid technology simplifies storage management ARMONK, N.Y., April 25, 2024 /PRNewswire/ -- IBM (NYSE: IBM) today announced new storage capabilities that give clients choice and control in the data center to maximize performance. A new IT life cycle management option called IBM Storage Assurance provides access to IBM FlashSystem hardware and software innovations to help protect clients' investm ...

International Business Machines Corporation (IBM) started 2024 on a positive note with relatively modest first-quarter results. The bottom line beat the Zacks Consensus Estimate, but the top line missed the same despite solid demand. The company witnessed healthy demand trends for hybrid cloud and AI solutions with a client-focused portfolio and broad-based growth and remains firmly on track to reach its targets for 2024.Net IncomeOn a GAAP basis, net income from continuing operations was $1,575 million or ...

Core Insights - IBM has transformed itself into a software and consulting company, generating most of its revenue from these segments while hardware contributes a smaller portion [1] - The company has focused on hybrid cloud and AI as key growth areas, highlighted by significant acquisitions and divestitures [2][5] Revenue Breakdown - In 2023, IBM generated $61.9 billion in revenue, with the following distribution: - Software: $26.3 billion (42.5%) - Consulting: $20.0 billion (32.3%) - Infrastructure: $14.6 billion (23.6%) - Financing: $741 million (1.2%) [3] Business Focus - IBM's software offerings include cybersecurity, automation, data analytics, AI, and transaction processing, with a hybrid cloud platform built on Red Hat [3] - The consulting segment aids clients in modernizing applications and digital transformation, often utilizing IBM products alongside partnerships with other tech providers [3] Growth Outlook - IBM has successfully returned to growth, with three-quarters of its revenue now from software and consulting, and half from recurring sources [5] - Revenue is projected to rise in 2024, alongside improvements in free cash flow, positioning IBM as a leader in enterprise hybrid cloud and AI markets [5]

International Business Machines Corporation (NYSE:IBM) Q1 2024 Earnings Call Transcript April 24, 2024 5:00 PM ET Company Participants Olympia McNerney - Global Head of Investor Relations Arvind Krishna - Chairman and Chief Executive Officer James Kavanaugh - Senior Vice President and Chief Financial Officer Conference Call Participants Amit Daryanani - Evercore Wamsi Mohan - Bank of America Toni Sacconaghi - Bernstein Ben Reitzes - Melius Research Erik Woodring - Morgan Stanley Brent Thill - Jefferies Bria ...

1Q 2024 Earnings April 24, 2024 ibm.com/investor Forward-looking statements and non-GAAP information ...

IBM (IBM) reported $14.46 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.5%. EPS of $1.68 for the same period compares to $1.36 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $14.57 billion, representing a surprise of -0.75%. The company delivered an EPS surprise of +5.66%, with the consensus EPS estimate being $1.59.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they c ...

IBM (IBM) came out with quarterly earnings of $1.68 per share, beating the Zacks Consensus Estimate of $1.59 per share. This compares to earnings of $1.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.66%. A quarter ago, it was expected that this technology and consulting company would post earnings of $3.78 per share when it actually produced earnings of $3.87, delivering a surprise of 2.38%.Over the last four quarters, t ...

Follow Invezz on Telegram , Twitter , and Google News for instant updates >International Business Machines Corporation (NYSE: IBM) published its Q1 financial outcomes on Wednesday after market close.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.The company’s revenue came at $14.46, slightly lower than the predicted $14.54 billion, whereas operating earnings per share beat the $1.59 forecast to $1.68. Nonetheless, IBM’s software revenue jumped 5% to ...

Exhibit 99.1 IBM RELEASES FIRST-QUARTER RESULTS Accelerated Software revenue growth; Strong gross margin expansion and cash generation Announces strategic acquisition of HashiCorp, Inc. ARMONK, N.Y., April 24, 2024 . . . IBM (NYSE: IBM) today announced first-quarter 2024 earnings results. “We began the year with solid revenue and free cash flow growth, reflecting the strength of our hybrid cloud and AI strategy. We continue to capitalize on the excitement and demand for enterprise AI from our clients. Our b ...