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International Business Machines Corp (IBM) stock

IBMNYSEComputer & office EquipmentFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026Score 18/300% below fair value
$258.28+5.06 (+2.00%)

Close on Oct 29, 2026Market cap $243.33BP/E 22.9Yield 2.60%

Earnings

International Business Machines's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.

Next report
Jan 27, 2027
Q4 FY2026 · estimated, after the close
Revenue, Q3 FY2026
$17.10B
+4.9% on a year earlier
Operating (Non-GAAP), Q3 FY2026
$2.95
$2.65 a year earlier
Latest guidance
Issued
Oct 21, 2026 · 1 item

Quarterly results

Revenue and earnings per share from each of International Business Machines's earnings releases, newest first

QuarterReportedRevenueYoYEPSAdj. EPSSource
Q4 FY2026ended Dec 31, 2026Jan 27, 2027Expected–––––
Q3 FY2026ended Sep 30, 2026Oct 21, 2026after the close$17.10B+4.9%$2.31$2.95Release
Q2 FY2026ended Jun 30, 2026Jul 14, 2026before the open$17.20B+1.2%$2.27$2.93Release
Q1 FY2026ended Mar 31, 2026Apr 22, 2026after the close$15.90B+9.7%$1.28–Release
Q4 FY2025ended Dec 31, 2025Jan 28, 2026after the close$19.70B+11.9%$5.86–Release
Q3 FY2025ended Sep 30, 2025Oct 22, 2025after the close$16.30B+8.7%$1.84$2.65Release
Q2 FY2025ended Jun 30, 2025Jul 23, 2025after the close$17.00B+7.6%$2.31$2.80Release
Q1 FY2025ended Mar 31, 2025Apr 23, 2025after the close$14.50B0.0%––Release
Q4 FY2024ended Dec 31, 2024Jan 29, 2025after the close$17.60B+1.1%––Release
Q3 FY2024ended Sep 30, 2024Oct 23, 2024after the close$15.00B+1.4%––Release
Q2 FY2024ended Jun 30, 2024Jul 24, 2024after the close$15.80B+1.9%$1.96$2.43Release
Q1 FY2024ended Mar 31, 2024Apr 24, 2024after the close$14.50B+1.4%$1.69$1.68Release

Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.

Current guidance

International Business Machines's latest outlook for periods it has not reported yet, compared with what it said before

MetricPeriodGuidanceBeforeChangeGiven
constant currency revenue growthnon-GAAPFY2026+5%+5%ReaffirmedApr 22, 2026
free cash flownon-GAAPFY2026$1.00B–NewOct 21, 2026
free cash flow increasenon-GAAPFY2026$1.00B–NewJan 28, 2026
free cash flow to increaseFY2026$1.00B–NewApr 22, 2026

Guidance vs results

The last range International Business Machines gave before each report, against the figure it then reported. Full years add up the four quarters.

PeriodMetricGuidanceActualResult
Q2 FY2025Revenue$16.40B – $16.75B$17.00BAbove range

Guidance history

Every forecast International Business Machines put in an earnings release, newest first

GivenMetricPeriodGuidanceChange
Oct 21, 2026free cash flowFY2026$1.00BNew
Apr 22, 2026free cash flow to increaseFY2026$1.00BNew
Apr 22, 2026constant currency revenue growthFY2026+5%Reaffirmed
Jan 28, 2026free cash flow increaseFY2026$1.00BNew
Jan 28, 2026constant currency revenue growthFY2026+5%New
Oct 22, 2025free cash flowFY2025$14.00BNew
Oct 22, 2025constant currency revenue growthFY2025+5%New
Jul 23, 2025free cash flowFY2025$13.50BNew
Jul 23, 2025constant currency revenue growthFY2025+5%New
Apr 23, 2025free cash flowFY2025$13.50BReaffirmed
Apr 23, 2025constant currency revenue growthFY2025+5%New
Apr 23, 2025revenueQ2 FY2025$16.40B – $16.75BNew
Jan 29, 2025free cash flowFY2025$13.50BNew
Jan 29, 2025constant currency revenue growthFY2025+5%New
Oct 23, 2024free cash flowFY2024$12.00BReaffirmed
Jul 24, 2024Free cash flowFY2024$12.00BReaffirmed
Apr 24, 2024free cash flowFY2024$12.00BReaffirmed
Jan 24, 2024Free cash flowFY2024$12.00BNew
Oct 25, 2023free cash flowFY2023$10.50BReaffirmed
Jul 19, 2023free cash flowFY2023$10.50BReaffirmed

Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.

Press releases

Releases International Business Machines filed with the SEC as exhibits to Form 8-K or 6-K

  1. Exceeded expectations with accelerated revenue growth led by Software and Infrastructure; Raises outlook for full-year free cash flow
    Results
  2. Non-GAAP Metrics and Other Financial Information
    Results
  3. Company provides updated full-year expectations
    Results
  4. Non-GAAP Metrics and Other Financial Information
    Results
  5. Arvind Krishna's Letter to IBM Investors
    Results
  6. Operating (non-GAAP) Earnings Per Share and Related Income Statement Items
    Results
  7. Double-digit Software and Infrastructure revenue growth; Strong margin expansion and double-digit profit and free cash flow growth
    Results
  8. Non-GAAP Metrics and Other Financial Information
    Results
  9. Strong, broad-based performance, led by double-digit Software and Infrastructure growth; Double-digit growth in full-year profit and free cash flow
    Results
  10. Non-GAAP Metrics and Other Financial Information
    Results
  11. 8-K exhibit EX-99.1
    Update
  12. October 22, 2025 ibm.com/investor 3Q 2025 Earnings Exhibit 99.2
    Update
  13. Acceleration in revenue growth and profit across all segments; Raises outlook for full-year revenue growth and free cash flow
    Results
  14. Non-GAAP Metrics and Other Financial Information
    Results
  15. 8-K exhibit EX-99.1
    Update