IBM (IBM) Tops Q2 EPS by 11c

IBM (NYSE: IBM) reported Q2 EPS of $2.18, $0.11 better than the analyst estimate of $2.07. Revenue for the quarter came in at $18.1 billion versus the consensus estimate of $17.72 million.

Highlights for the second quarter include:

• GAAP EPS from continuing operations of $1.52
• Operating (non-GAAP) EPS of $2.18
• Revenue of $18.1 billion, down 5.4 percent (down 1.9 percent adjusting for divested businesses and currency)
• -- Cloud & Cognitive Software revenue up 3 percent (up 5 percent adjusting for currency)
• -- Systems revenue up 6 percent
• Total cloud revenue of $6.3 billion, up 30 percent (up 34 percent adjusting for divested businesses and currency)
• -- Total cloud revenue of $23.5 billion over the last 12 months, up 20 percent (up 23 percent adjusting for divested businesses and currency)
• Red Hat revenue up 17 percent (up 18 percent adjusting for currency), normalized for historical comparability
• GAAP gross profit margin of 48 percent, up 100 basis points; Operating (non-GAAP) gross profit margin of 49 percent up 160 basis points
• Net cash from operating activities of $15.1 billion and free cash flow of $11.5 billion, over the last 12 months

For earnings history and earnings-related data on IBM (IBM) click here.

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