IBM (IBM) Tops Q3 EPS by 2c, Revenue Comes in Light, Offers FY Guidance
IBM (NYSE: IBM) reported Q3 EPS of $3.42, $0.02 better than the analyst estimate of $3.40. Revenue for the quarter came in at $18.8 billion versus the consensus estimate of $19.1 billion.
GUIDANCE:
IBM sees FY2018 EPS of at least $13.80, versus the consensus of $13.80.
- The company expects operating (non-GAAP) diluted earnings per share of at least $13.80, and GAAP diluted earnings per share of at least $11.60. Operating (non-GAAP) diluted earnings per share exclude $2.20 per share of charges for amortization of purchased intangible assets, otheracquisition-related charges, retirement-related charges and any one-time impacts from the enactment of U.S. Tax Reform. GAAP expectations exclude any fourth-quarter one-time impacts from the enactment of U.S. Tax Reform.
- IBM expects free cash flow of approximately $12 billion, with a realization rate greater than 100 percent.
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