IBM (NYSE: IBM) reported Q1 EPS of $1.91, $0.10 better than the analyst estimate of $1.81. Revenue for the quarter came in at $15.92 billion versus the consensus estimate of $15.61 billion.

Full-Year 2026 Expectations

• Revenue: The company continues to expect full-year constant currency revenue growth of more than 5 percent. At current foreign exchange rates, currency is expected to be about a half-point to one-point tailwind to growth for the year
• Free cash flow: The company continues to expect full-year free cash flow to increase by about $1 billion year-over-year

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