Arvind Krishna's Letter to IBM Investors
IBM reported preliminary Q2 revenue of $17.2 billion, up 1% year-over-year, with GAAP EPS of $2.27 and Operating (Non-GAAP) EPS of $2.93. The quarter was marred by a significant infrastructure revenue shortfall of 7%, which CEO Arvind Krishna attributed to execution failures, large deals that failed to close, and client capex shifts.
Key figures
- Eps
- 2.27
- Revenue
- 17200000000
- Revenue Yoy
- 1 percent
- Eps non gaap
- 2.93
- Free cash flow ytd
- 4800000000
- Software revenue yoy
- 5 percent
- Red hat revenue growth
- 11 percent
- Operating cash flow ytd
- 7800000000
- Gross margin gaap percent
- 57.7
- Infrastructure revenue yoy
- -7 percent
- Gross margin non gaap percent
- 59.4
- Quantum investment commitment
- 10000000000
AI analysis
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