Healthy demand trends for hybrid cloud and AI solutions enable IBM to beat second-quarter 2024 earnings estimates.
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International Business Machines Corporation (NYSE:IBM ) Q2 2024 Earnings Conference Call July 24, 2024 5:00 PM ET Company Participants Olympia McNerney - Global Head of Investor Relations Arvind Krishna - Chairman and Chief Executive Officer Jim Kavanaugh - Senior Vice President and Chief Financial Officer Conference Call Participants Wamsi Mohan - Bank of America Toni Sacconaghi - Bernstein Amit Daryanani - Evercore ISI Jim Schneider - Goldman Sachs Ben Reitzes - Melius Research Erik Woodring - Morgan Stanley Matt Swanson - RBC Capital Markets Operator Welcome and thank you for standing-by. At this time, all participants are in a listen-only mode.
International Business Machines (IBM) beat analysts' expectations on the top and bottom lines with its second-quarter results Wednesday, sending shares higher in aftermarket trading as CEO Arvind Krishna pointed to the company's expanding artificial intelligence (AI) business.
IBM (IBM) came out with quarterly earnings of $2.43 per share, beating the Zacks Consensus Estimate of $2.16 per share. This compares to earnings of $2.18 per share a year ago.
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IBM's revenue and adjusted earnings per share were higher than expected. The company is slightly more positive on full-year free cash flow.
International Business Machines Corporation IBM will release its fiscal third quarter 2024 financial results, after the closing bell on Wednesday, July 24.
Technology firm IBM could benefit from low expectations when it reports second-quarter earnings.
International Business Machines Corp IBM is reporting its second-quarter earnings on Wednesday. Wall Street expects $2.19 in EPS and $15.6 billion in revenues as the company reports after market hours.
IBM is expected to have recorded higher revenues from the Consulting segment in the second quarter, owing to healthy demand for technology consulting and business transformation services.
IBM is expected to have recorded lower revenues from the Software segment in the second quarter, owing to soft demand in the hybrid platform & solutions business.