The company said revenue for Q2 2024 rose to $15.8 billion, up 2%, or 4% at constant currency. By segment, Software revenue rose 7% and Infrastructure revenue rose 1%, while Consulting revenue fell 1%.

1. 01

   The company said revenue for Q2 2024 rose to $15.8 billion, up 2%, or 4% at constant currency. By segment, Software revenue rose 7% and Infrastructure revenue rose 1%, while Consulting revenue fell 1%.

2. 02

   IBM said its GAAP gross profit margin for Q2 was 56.8%, up 180 basis points, and its GAAP pre-tax income margin was 14.1%, up 110 basis points. On an Operating (Non-GAAP) basis, the gross profit margin was 57.8% and the pre-tax income margin was 17.7%.

3. 03

   The company said net cash from operating activities for Q2 was $2.1 billion, down $0.6 billion year over year, and free cash flow was $2.6 billion, up $0.5 billion. It said free cash flow for the first half rose $1.1 billion to $4.5 billion.

4. 04

   The company said it expects free cash flow for the full year to exceed $12 billion. It also said it continues to expect constant currency revenue growth consistent with its mid-single digit model, and it expects currency to be a headwind of about 1 to 2 points to revenue growth at current foreign exchange rates.

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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