IBM (IBM) Tops Q1 EPS by 14c, Revenue Beats

IBM (NYSE: IBM) reported Q1 EPS of $1.77, $0.14 better than the analyst estimate of $1.63. Revenue for the quarter came in at $17.7 billion versus the consensus estimate of $17.34 billion.

Full-Year 2021 Expectations:

The company expects to grow revenue for the full year 2021 based on mid-April 2021 foreign exchange rates. The company also expects adjusted free cash flow of $11 billion to $12 billion in 2021. Adjusted free cash flow expectations exclude approximately $3 billion of cash impacts from the company’s structural actions initiated in the fourth quarter of 2020 and the transaction costs associated with the separation of the managed infrastructure services business.

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

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