IBM: EPS up 5% in Q3

(CercleFinance.com) - IBM on Wednesday evening reported a 2% increase in net operating profit (non-GAAP) to $2.
2 billion for the third quarter of 2024, or $2.30 per share (+5%), with adjusted pre-tax margin improving by one point to 16.6%.

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

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

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