IBM said it recorded annual revenue of about $63 billion, operating pre-tax income of $11.2 billion, and operating earnings per share of $10.33. It said free cash flow was $12.7 billion, up 14%.

1. 01

   IBM said it recorded annual revenue of about $63 billion, operating pre-tax income of $11.2 billion, and operating earnings per share of $10.33. It said free cash flow was $12.7 billion, up 14%.

2. 02

   IBM said revenue for Q4 was $17.6 billion, up more than 2% at constant currency. By segment, Software grew 11%, Consulting declined 1%, and Infrastructure declined 6%. The company said Red Hat grew 17%.

3. 03

   The company said year-end cash was $14.8 billion, up $1.3 billion. It said debt fell $1.6 billion to $55 billion, including about $12 billion of debt tied to its financing business. For the year, it said it spent more than $3 billion on acquisitions and returned just over $6 billion to shareholders through dividends.

4. 04

   The company expects constant currency revenue growth of 5% or more for 2025 and free cash flow of about $13.5 billion. It said currency will be a headwind of about 2 points to revenue growth, and it expects operating pre-tax margin to expand by over half a point.

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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