The company said it recorded revenue of $17.4 billion, operating pre-tax income of $4.2 billion and operating earnings per share of $3.87 for Q4 2023. Full-year revenue was nearly $62 billion, up 3%, and free cash flow was $11.2 billion.

1. 01

   The company said it recorded revenue of $17.4 billion, operating pre-tax income of $4.2 billion and operating earnings per share of $3.87 for Q4 2023. Full-year revenue was nearly $62 billion, up 3%, and free cash flow was $11.2 billion.

2. 02

   The company said Software revenue rose 2% and Infrastructure revenue rose 2% in Q4, while Consulting revenue grew five-and-a-half percent. For the year, Software grew more than 5% and Consulting grew more than 6%, while Infrastructure declined 4%.

3. 03

   IBM said it expects revenue growth in 2024 on a constant currency basis to be in line with its mid-single digit model, and that it is prudent to assume the low end of that model at the start of the year. It also said it expects free cash flow of about $12 billion.

4. 04

   The company said it invested more than $5 billion to acquire nine companies in 2023 and returned just over $6 billion to shareholders in dividends. Year-end cash was thirteen-and-a-half billion dollars and total debt was fifty-six-and-a-half billion dollars, including about $12 billion of debt associated with its financing business.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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