IBM: Q3 EPS up 22%
(CercleFinance.com) - On Wednesday evening IBM announced a 23% increase in net operating profit (non-GAAP) to $2bn for Q3 2023, or $2.
20 per share (+22%), with an adjusted pre-tax margin improving by 1.7 point to 15.6%. NB: pmt +1.4%.
The IT services giant's sales rose by 4.6% to $14.8bn, as reported, and were up 3.5% at constant exchange rates, with growth again driven by the software (+6%) and consulting (+5%) segments.
IBM has therefore confirmed its expectations for the current financial year, which include revenue growth of 3% to 5% at constant exchange rates, and free cash flow of around $10.5bn, up over $1bn from a year ago.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
20 per share (+22%), with an adjusted pre-tax margin improving by 1.7 point to 15.6%. NB: pmt +1.4%.
The IT services giant's sales rose by 4.6% to $14.8bn, as reported, and were up 3.5% at constant exchange rates, with growth again driven by the software (+6%) and consulting (+5%) segments.
IBM has therefore confirmed its expectations for the current financial year, which include revenue growth of 3% to 5% at constant exchange rates, and free cash flow of around $10.5bn, up over $1bn from a year ago.
Copyright (c) 2023 CercleFinance.com. All rights reserved.