IBM (NYSE: IBM) reported Q3 EPS of $1.81, $0.02 better than the analyst estimate of $1.79. Revenue for the quarter came in at $14.11 billion versus the consensus estimate of $13.54 billion.

Full-Year 2022 Expectations:

• Revenue Growth: The company now expects constant currency revenue growth above its mid-single digit model. The company continues to expect an additional contribution of approximately 3.5 points from sales to Kyndryl, concentrated in the first three quarters. At mid-October 2022 foreign exchange rates, currency is expected to be about a seven-point headwind.
• Free Cash Flow: The company continues to expect about $10 billion in consolidated free cash flow.

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