IBM (NYSE: IBM) reported Q4 EPS of $2.07, $0.28 better than the analyst estimate of $1.79. Revenue for the quarter came in at $20.4 million versus the consensus estimate of $20.67 billion.

Full-Year 2021 Expectations:

The company expects to grow revenue for the full year 2021 based on the current foreign exchange rates. The company also expects adjusted free cash flow of $11 billion to $12 billion in 2021. Adjusted free cash flow excludes 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.

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