- In Q2 2023, IBM reported an operating EPS of $2.18, which was higher than the expected $2.01.
- The reported revenue for Q2 was $15.48 billion, falling slightly short of the projected $15.57 billion.
The revenue breakdown across different segments was as follows:
- Software segment generated $6.61 billion in revenue, surpassing the expected $6.35 billion, marking a 7.2% increase year-over-year.
- Consulting segment revenue stood at $5.01 billion, just on par with the expected $5 billion, an increase of 4.2% from the previous year.
- Infrastructure segment saw a decline with a revenue of $3.62 billion, below the expected $3.88 billion, representing a 15% decrease year-over-year.
- Financing segment brought in $185 million in revenue, exceeding the expected $162.3 million, showing a 27% increase year-over-year.
For the full fiscal year, IBM has maintained its guidance:
- The company expects a revenue growth at constant currency of 3% to 5%, which is higher than the expected 2.89%.
- IBM also expects to generate free cash flow of around $10.5 billion, which is higher than the expected $9.65 billion
IBM shares are trading at $135.68 up $0.20 or 0.15% (4:20 PM ET)
This article was originally published by Forexlive.com. Read the original article here.