IBM (NYSE: IBM) reported Q2 EPS of $2.33, $0.04 better than the analyst estimate of $2.29. Revenue for the quarter came in at $18.7 billion versus the consensus estimate of $18.29 billion.

Full-Year 2021 Expectations:

The company expects to grow revenue for the full year 2021 based on mid-July 2021 foreign exchange rates. The company continues to expect 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 Kyndryl.

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