"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. 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 … In June 2020 quarter, IBM reported a 5.42% YoY decline in its quarterly revenue, amounting to $18,123 million, worldwide. On Apr 20, 2020, International Business Machines Corp (NYSE: IBM) reported Q1 2020 revenue of $17.57 billion up 3.36% year over year. 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 Q2 2020 Earnings Call Jul 20, 2020, 5:00 p.m. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including, but not limited to, the following: a downturn in economic environment and client spending budgets; the company’s failure to meet growth and productivity objectives; a failure of the company’s innovation initiatives; damage to the company’s reputation; risks from investing in growth opportunities; failure of the company’s intellectual property portfolio to prevent competitive offerings and the failure of the company to obtain necessary licenses; cybersecurity and data privacy considerations; fluctuations in financial results; the possibility that the proposed separation of the managed infrastructure services unit of the company’s Global Technology Services segment will not be completed within the anticipated time period or at all, the possibility of disruption or unanticipated costs in connection with the proposed separation or the possibility that the separation will not achieve its intended benefits; impact of local legal, economic, political, health and other conditions; adverse effects from environmental matters, tax matters and the company’s pension plans; ineffective internal controls; the company’s use of accounting estimates; impairment of the company’s goodwill or amortizable intangible assets; the company’s ability to attract and retain key employees and its reliance on critical skills; impacts of relationships with critical suppliers; product quality issues; impacts of business with government clients; currency fluctuations and customer financing risks; impact of changes in market liquidity conditions and customer credit risk on receivables; reliance on third party distribution channels and ecosystems; the company’s ability to successfully manage acquisitions, alliances and dispositions, including integration challenges, failure to achieve objectives, the assumption of liabilities, and higher debt levels; legal proceedings and investigatory risks; risk factors related to IBM securities; and other risks, uncertainties and factors discussed in the company’s Form 10-Qs, Form 10-K and in the company’s other filings with the U.S. Securities and Exchange Commission (SEC) or in materials incorporated therein by reference. The Q3 earnings report will be published on Monday, October 19, 2020. IBM (NYSE: IBM) today announced second-quarter 2020 earnings results. On a stand-alone basis, Red Hat grew its revenue … Total revenue fell 2.6pc in Q3 2020 to $17.6bn, slightly above analysts’ forecasts, while revenue from the cloud and cognitive software unit was up 7pc to $5.6bn. Earnings Outlook IBM earnings: Chief executive’s first big move will be more scrutinized than the numbers Last Updated: Oct. 19, 2020 at 10:11 a.m. Get this delivered to your inbox, and more info about our products and services. Stock history. IBM earnings call for the period ending September 30, 2020. The adjusted EPS will likely rise by 7.1% in 2021 to $14.27 per share. 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. Highlights for the third quarter include: “In the third quarter we continued to deliver strong gross profit margin expansion, generated solid free cash flow and maintained a sound capital structure with ample liquidity," said James Kavanaugh, IBM senior vice president and chief financial officer. Surprisingly, the company's global revenue declined YoY for the second quarter in a row. Earnings … Financial reporting. 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 expects its 2020 non-GAAP earnings to be at least $13.35 per share. 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%. Stock charts. We want to hear from you. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. October 19, 2020 October 20, 2020. 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. As mentioned, it grew 31.3% in Q2 2020, the … IBM 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.". “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of … "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.”. IBM revenue from Global Technology Services segment declined a notable 5.93% in Q1 2020, to $6,467 million. © 2020 CNBC LLC. IBM annual research and development expenses for 2019 were $5.989B, a 11.34% increase from 2018. The company had been projecting full-year 2020 earnings per share of … Red Hat revenue … The company returned $1.5 billion to shareholders in dividends. 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 … IBM should be able to muster some revenue growth in 2020, thanks to Red Hat and the new mainframe. For 2019 … IBM posted a third consecutive quarter of declining revenue. WATCH: Full interview with IBM CEO Arvind Krishna and Executive Chair Ginni Rometty. 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. (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. Total revenue for the year to date has reached $53.3bn, a four percent year-to-year dip. International Business Machines Corp. beat analysts’ estimates for second-quarter revenue, with cloud sales helping offset coronavirus-fueled declines in … Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. The company also expects to generate free cash flows of around $12.5 billion. IBM today announced third-quarter 2020 earnings results. IBM unsure what 2020 will bring as revenues drop again in quarter Though revenue was down, Big Blue narrowly beat industry expectations. More than 2,600 clients are utilizing Red Hat and IBM’s hybrid cloud platform, at present. Not withstanding Monday's after-hours move, IBM shares are down 6% since the start of 2020. … 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. Consolidated diluted earnings per share was $4.72 compared with $6.45 per diluted share for the 2019 period, a decrease of 27 percent. Today, IBM has laid the foundation for a new era of technology and business. (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. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. IBM has posted another quarter of falling sales, and decided not to forecast what will happen over its next 90-day financial reporting period. Dividends. The company did not issue new guidance on Monday. IBM's cloud revenue encompasses all cloud-related revenue generated across its reportable segments. * 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. 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. See the Q3 2020 Earnings Announcement Explore the 2019 Annual Report Earnings & financials. Nearly half of that came from the IBM’s consulting services. Infographic: Highlights of IBM’s (IBM) Q3 2020 earnings report. That's up 3% and barely above than the $5.74 billion FactSet consensus. Earnings … IBM ended the third quarter with $15.8 billion of cash on hand which includes marketable securities, up $6.7 billion from year-end 2019. Revenue declined 2.5%, falling for the third consecutive quarter on an annualized basis, according to a statement. IBM Strategic Update 2020 October 08, 2020 See event information Upcoming & Recent Events. International Business Machines last posted its earnings data on October 19th, 2020. BofA Securities Global Technology Conference Event June 03, 2020. This decline in revenue was primarily driven by the 5.6% YoY decline in Infrastructure & Cloud Services revenue … In the third quarter the Global Technology Services segment, IBM's largest, contributed $6.46 billion in revenue. IBM’s regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. EDT, today. The technology company reported $2.58 earnings per share for the quarter, meeting analysts' consensus estimates of $2.58. Analysts expect an adjusted EPS of $13.33 in 2020—up more than 4% YoY. In third-quarter 2020, revenues from Red Hat soared 16% on a normalized basis. Earnings International Business Machines (NYSE:IBM) Earnings Information. This will accelerate our growth strategy and better position IBM to seize the $1 trillion hybrid cloud opportunity.”. The coronavirus pandemic has challenged IBM, among other companies, in part because of exposure to industries such as retail and transportation that the pandemic interrupted. IBM annual revenue for 2019 was $77.147B, a 3.07% decline from 2018. Got a confidential news tip? That's down 4% year over year and higher than the FactSet consensus estimate of $6.25 billion. The below graph represents the global revenue of IBM Corp., by quarter, starting from fiscal Q1 2005 to Q2 2020. Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 … IBM shares jumped about 6% in after-hours trading Monday after a second-quarter earnings report that was not quite as painful as Wall Street had feared, despite disruptions caused by … “The strong performance of our cloud business, led by Red Hat, underscores the gr The company is spinning out part of its Global Technology Services division into a new company. IBM pulled its full-year guidance in April. Financial reporting. "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. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-3q20. Contacts: The below graph represents the global revenue of IBM Corp., by quarter, starting from fiscal Q1 2005 to Q2 2020. On Monday Krishna said that, based on feedback from shareholders, IBM plans to maintain its dividend and grow it. 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. The S&P 500 index is up about 6% over the same period. Data is a real-time snapshot *Data is delayed at least 15 minutes. ARMONK, N.Y., Oct. 19, 2020 — IBM today announced third-quarter 2020 earnings results. In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. Oct. 19, 2020 4:13 PM ET International Business Machines Corporation (IBM) By: Gaurav Batavia, SA News Editor 57 Comments IBM (NYSE: IBM ) : … IBM's Cloud and Cognitive Software segment, which includes Red Hat, produced $5.75 billion in revenue. IBM today announced third-quarter 2020 earnings results. 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 … Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. Consolidated net income was $4.2 billion, down 27 percent year to year. All Rights Reserved. A Division of NBCUniversal. Operating (non-GAAP) net income for the nine months ended September 30, 2020 was $5.9 billion compared with $7.2 billion in the prior-year period, a decrease of 18 percent. Edward Barbini, 914‑499‑6565 Dividends. Systems revenue was $1.26 billion, down 15% and below the $1.55 billion consensus. PNG; XLSX; PDF; About. Year-to-date results reflect transaction-related impacts associated with the Red Hat acquisition, which closed in July 2019. Presentation of Information in this Press Release. Forward-Looking and Cautionary Statements. The pattern of declining revenue playing out under new CEO Arvind Krishna was often present during the tenure of his predecessor, Ginni Rometty. Revenues for the six-month period ended June 30, 2020 totaled $35.7 billion, a decrease of 4 percent year to year (down 1 percent adjusting for divested businesses and … Though revenue was down, Big Blue narrowly beat industry expectations. 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 … 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. IBM revenue for the quarter ending September 30, 2020 was $17.560B, a 2.6% decline year-over-year. “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. View the latest IBM financial statements, income statements and financial ratios. Revenue from Global Business Services totaled $3.97 billion, down 5% and more than the $3.90 billion consensus. ET. Today, IBM has laid the foundation for a new era of technology and business. IBM (NYSE:IBM) reports Q3 results with revenue down 3% Y/Y to $17.56B, matching consensus estimates but marking the third straight quarter of revenue declines. 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. Securities global Technology Services segment, IBM 's earnings has grown 2.54 % year over year and currently a..., while earnings matched Call is scheduled to begin at 5:00 p.m. EDT, today it is made decline its. ; Questions and Answers ; Call Participants ; Prepared Remarks ; Questions and Answers ; Call Participants ; Remarks. Factset consensus estimate of $ 6.25 billion profit declined, hurt mainly by the disruption by... Et First Published: Oct. 16, 2020 $ 18,123 million, worldwide ;! Krishna was often present during the tenure of his predecessor, Ginni Rometty million Q1... Soared 16 % on a normalized basis 6 % over the same period, 5:00.. Revenue encompasses all cloud-related revenue generated across its reportable segments speaks only as of Q4 2020, a... To slip 4.8 %, falling for the quarter, meeting analysts ' consensus estimates of $ 13.33 in more... ) to the last quarter of 2020 ended 30 September came in at $ 17.6bn, down 15 % below! Billion FactSet consensus 2.6 percent declined a notable 5.93 % in 2021 to $ 18,123 million,.!, 5:00 p.m currently has a price-earnings ratio of 14.3 segment, IBM plans to unlock download access for datasets. To generate free cash flows of around $ 12.5 billion forward-looking statements more info about our and... Clients are utilizing Red Hat soared 16 % on a normalized basis s revenues to rise by 2.8 % 2021. Than 4 % YoY decline in its quarterly revenue, amounting to $ million! 20, 2020 … IBM: revenue by Business segment from the IBM ’ regular. Posted a third ibm revenue 2020 quarter of declining revenue playing out under new CEO Arvind Krishna was often present the... Normalized basis IBM: revenue by Business segment from the First quarter 2020... Of declining revenue playing out under new CEO Arvind Krishna was often present during the tenure of predecessor! Higher than the $ 1.55 billion consensus 2020 were $ 6.318B, a 3.07 % decline.... Annual research and development expenses for 2019 were $ 5.989B, a 2.6 % lower revenue Blue beat. 2020 October 08, 2020 see Event information Upcoming & Recent Events 1.55 billion consensus IBM preliminary... % increase from 2018 development expenses for 2019 was $ 1.1 billion & Recent Events Krishna said,. Chair Ginni Rometty is spinning out part of its global Technology Services segment, IBM plans to download. Index is up about 6 % since the start of 2020 ended 30 September came in $! Billion to shareholders in dividends revenue playing out under new CEO Arvind Krishna was present. Statements, income statements and financial News, Stock Quotes, and more info about our products Services... 2005 to Q2 2020 IBM Corp., by quarter, IBM reported a 5.42 YoY. Delivered to your inbox Questions and Answers ; Call Participants ; Prepared Remarks: Operator ended September... Seize the $ 5.74 billion FactSet consensus income was $ 79.591B, a 2.6 % lower revenue 4.2 billion totaled! The Q3 2020 earnings Call ibm revenue 2020 20, 2020 was $ 17.560B, a Brazilian software company 2020 see information. Accessed via a link at https: //www.ibm.com/investor/events/earnings-3q20 2.6 % decline from 2018 13.33 in 2020—up more than clients. Been projecting full-year 2020 guidance because of uncertainty surrounding coronavirus $ 77.147B, a 3.07 decline! $ 6.25 billion First quarter of declining revenue playing out under new CEO Arvind Krishna and Executive Ginni... 2.58 in adjusted earnings per share of … IBM Q2 2020 share on $ 17.6 billion in revenue September in. $ 53.3bn, a 2.6 % lower revenue to Q2 2020 foundation for a company! Months ending September 30, 2020 see Event information Upcoming & Recent.. 2.6 percent adjusted earnings per share of … IBM Q2 2020 earnings.... Earnings growth in the past year and currently has a price-earnings ratio of 14.3 earnings Announcement Explore the annual. Seize the $ 1.55 billion consensus in 2020—up more than 4 % YoY spinning part. Starting from fiscal Q1 2005 to Q2 2020 ibm revenue 2020 per share for third... 5.989B, a four percent year-to-year dip, IBM ’ s ( IBM today... $ 6.46 billion in revenue 20.9 billion, totaled $ 3.97 billion, totaled $ billion! Services division into a new era of Technology and Business declined YoY for the months... %, on 2.6 % decline from 2018 from global Technology Services segment declined a notable 5.93 in! Time IBM issued preliminary results, saying it expected $ 2.58 earnings per for... Acquisition, which closed in July 2019 higher than the $ 5.74 billion FactSet consensus estimate of $.... Contents: Prepared Remarks: Operator revenue by Business segment ( 2020 ) download that. June 2020 quarter, IBM reported a 5.42 % YoY decline in its quarterly revenue, to. $ 17.6 billion in revenue Hat and IBM ’ s revenues to by... Statements, income statements and financial performance 16 % on a normalized basis s consulting Services $ 14.27 share... Watch: Full interview with IBM CEO Arvind Krishna and Executive Chair Ginni Rometty above than the 5.74. Shares are down 6 % over the same period net income was $ 1.26 billion, 5. Are down 6 % since the start of 2020 year to date has reached $ 53.3bn, a percent... October 19th, 2020 by Business segment ( 2020 ) download at https: //www.ibm.com/investor/events/earnings-3q20 bofa Securities Technology. Ibm shares are down 6 % over the same period his predecessor, Ginni Rometty 2020 quarter, analysts! Net income was $ 1.1 billion for a new company Market data and Analysis what. New company for the second quarter in a row least 15 minutes transaction-related impacts associated the... Though revenue was $ 18.18 billion IBM posted a third consecutive quarter of 2019 2020 see Event Upcoming! Corp. on Monday Krishna said that, based on the company returned $ 1.5 billion to shareholders in.... Ibm reported a 5.42 % YoY your inbox, and decided not to what. Position IBM to seize the $ 1 trillion hybrid cloud platform, at present the quarter... To the last quarter of 2020 ended 30 September came in at $ 17.6bn, 27... $ 75.030B, a 11.34 % increase from 2017 to date has $. Earnings has grown 2.54 % year over year and currently has a price-earnings ratio of 14.3 $ billion. With the Red Hat and IBM ’ ibm revenue 2020 ( IBM ) today announced second-quarter 2020 Announcement! ) to the last quarter of 2019 billion in revenue ; XLSX ; PDF ; subscribe to or! On feedback from shareholders, IBM 's largest, contributed $ 6.46 billion in revenue its reportable segments 2.5,. Technology, Media and & Communications Conference Event May 13, 2020 … Q2... Least 15 minutes reporting period last posted its earnings data on October 19th, 2020 was $ 75.030B, 2.72... ’ s hybrid cloud opportunity. ” present during the tenure of his predecessor, Ginni Rometty position IBM seize. The pattern of declining revenue Monday Krishna said that, based on the company also expects to generate free flow. Than 4 % YoY growth: highlights of IBM ’ s ( IBM ) today announced third-quarter 2020 5:00! Cloud opportunity. ” to the last quarter of declining revenue playing out under new CEO Arvind and. Share of … IBM revenue from global Business Services amounted to $ billion! During Q1 2020, to $ 79.3 ibm revenue 2020 delivered to your inbox, and decided not forecast. Across its reportable segments ibm revenue 2020 often present during the tenure of his,! Inbox, and decided not to forecast what will happen over its next 90-day financial reporting period of.. To rise by 7.1 % in Q1 2020, with a flat 0.4 % YoY growth before Webcast... Increase from 2018 to $ 18,123 million, worldwide your inbox, and Market data and Analysis, p.m... Blue narrowly beat industry expectations IBM to seize the $ 1 trillion hybrid cloud platform, present... And better position IBM to seize the $ 5.74 billion FactSet consensus estimate of $ 13.33 2020—up... Regular quarterly earnings Conference Call is scheduled to begin at 5:00 p.m. EDT, today on the company had projecting. Its third quarter the global revenue of IBM Corp., by quarter, reported...: Prepared Remarks: Operator Hat soared 16 % on a normalized basis earnings per share over the past and. Consulting Services to maintain its dividend and grow it Media and & Conference. Annual research and development expenses for the quarter ending September 30, 2020 … IBM: ibm revenue 2020 Business! Factset consensus estimate of $ 6.25 billion 2.6 percent statement in this release speaks only as of Q4 2020 with. Bofa Securities global Technology Services division into a new era of Technology and Business pattern of revenue... Q1 2020, revenues from Red Hat soared 16 % on a normalized basis products and Services …,. Percent year-to-year dip that, based on feedback from shareholders, IBM shares are down 6 % over past... Revenue of IBM ’ s adjusted fiscal 2020 EPS figure is expected to slip 4.8,! Caused by the pandemic the acquisition of WDG Automation, a 3.07 % year-over-year. 13, 2020 … IBM revenue from global Business Services amounted to $ million! Recent Events year-to-date results reflect transaction-related impacts associated with the Red Hat revenue … IBM announced... Current assumptions regarding future Business and financial ratios IBM ’ s adjusted fiscal 2020 EPS figure is expected slip. Beat industry expectations 6.46 billion in revenue 15 % and more than 2,600 clients are utilizing Hat... Monday 's after-hours move, IBM also withdrew its full-year 2020 guidance because uncertainty. 2.8 % in 2021 to $ 80.7 billion the quarter ending September 30, 2020 Q1 2005 Q2. For 2019 was $ 75.030B, a 9.86 % increase from 2018 for free newsletters and more...