IBM: Q3 EPS up 5%

(CercleFinance.com) - On Wednesday evening IBM reported a 2% increase in net operating profit (non-GAAP) to $2.
2bn for Q3 2024, or $2.30 per share (+5%), with adjusted pre-tax margin improving by one point to 16.6%. NB: pmt -4%.

The IT giant's sales rose by 1% to $15bn as reported, and by 2% at constant exchange rates, with 10% growth in software offsetting a 7% decline in infrastructure.

Announcing a backlog of over $3bn in generative AI, IBM is confident in its ability to generate annual free cash flow of more than $12bn, driven by the continued expansion of its operating margin.


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