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International Business Machines Earnings Calls
| Release date | Oct 22, 2025 |
| EPS estimate | $2.45 |
| EPS actual | $2.65 |
| EPS Surprise | 8.16% |
| Revenue estimate | 16.093B |
| Revenue actual | 16.331B |
| Revenue Surprise | 1.48% |
| Release date | Jul 23, 2025 |
| EPS estimate | $2.65 |
| EPS actual | $2.80 |
| EPS Surprise | 5.66% |
| Revenue estimate | 16.589B |
| Revenue actual | 16.977B |
| Revenue Surprise | 2.34% |
| Release date | Apr 23, 2025 |
| EPS estimate | $1.42 |
| EPS actual | $1.60 |
| EPS Surprise | 12.68% |
| Revenue estimate | 14.39B |
| Revenue actual | 14.541B |
| Revenue Surprise | 1.05% |
| Release date | Jan 29, 2025 |
| EPS estimate | $3.77 |
| EPS actual | $3.92 |
| EPS Surprise | 3.98% |
| Revenue estimate | 17.558B |
| Revenue actual | 17.553B |
| Revenue Surprise | -0.0291% |
Last 4 Quarters for International Business Machines
Below you can see how IBM performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Jan 29, 2025 |
| Price on release | $228.63 |
| EPS estimate | $3.77 |
| EPS actual | $3.92 |
| EPS surprise | 3.98% |
| Date | Price |
|---|---|
| Jan 23, 2025 | $226.04 |
| Jan 24, 2025 | $224.80 |
| Jan 27, 2025 | $224.13 |
| Jan 28, 2025 | $225.66 |
| Jan 29, 2025 | $228.63 |
| Jan 30, 2025 | $258.27 |
| Jan 31, 2025 | $255.70 |
| Feb 03, 2025 | $260.73 |
| Feb 04, 2025 | $264.46 |
| 4 days before | 1.15% |
| 4 days after | 15.67% |
| On release day | 12.96% |
| Change in period | 17.00% |
| Release date | Apr 23, 2025 |
| Price on release | $245.48 |
| EPS estimate | $1.42 |
| EPS actual | $1.60 |
| EPS surprise | 12.68% |
| Date | Price |
|---|---|
| Apr 16, 2025 | $238.57 |
| Apr 17, 2025 | $238.81 |
| Apr 21, 2025 | $236.22 |
| Apr 22, 2025 | $240.90 |
| Apr 23, 2025 | $245.48 |
| Apr 24, 2025 | $229.33 |
| Apr 25, 2025 | $232.41 |
| Apr 28, 2025 | $236.16 |
| Apr 29, 2025 | $239.39 |
| 4 days before | 2.90% |
| 4 days after | -2.48% |
| On release day | -6.58% |
| Change in period | 0.344% |
| Release date | Jul 23, 2025 |
| Price on release | $282.01 |
| EPS estimate | $2.65 |
| EPS actual | $2.80 |
| EPS surprise | 5.66% |
| Date | Price |
|---|---|
| Jul 17, 2025 | $282.00 |
| Jul 18, 2025 | $285.87 |
| Jul 21, 2025 | $284.71 |
| Jul 22, 2025 | $281.96 |
| Jul 23, 2025 | $282.01 |
| Jul 24, 2025 | $260.51 |
| Jul 25, 2025 | $259.72 |
| Jul 28, 2025 | $263.21 |
| Jul 29, 2025 | $262.41 |
| 4 days before | 0.0035% |
| 4 days after | -6.95% |
| On release day | -7.62% |
| Change in period | -6.95% |
| Release date | Oct 22, 2025 |
| Price on release | $287.51 |
| EPS estimate | $2.45 |
| EPS actual | $2.65 |
| EPS surprise | 8.16% |
| Date | Price |
|---|---|
| Oct 16, 2025 | $275.97 |
| Oct 17, 2025 | $281.28 |
| Oct 20, 2025 | $283.65 |
| Oct 21, 2025 | $282.05 |
| Oct 22, 2025 | $287.51 |
| Oct 23, 2025 | $285.00 |
| Oct 24, 2025 | $307.46 |
| Oct 27, 2025 | $313.09 |
| Oct 28, 2025 | $312.57 |
| 4 days before | 4.18% |
| 4 days after | 8.72% |
| On release day | -0.87% |
| Change in period | 13.26% |
International Business Machines Earnings Call Transcript Summary of Q3 2025
IBM reported a strong third quarter 2025 with revenue growth accelerating to 7% (highest in several years) and across-the-board sequential acceleration in all segments. Software grew 9% (automation up 22%, OpenShift ARR $1.8B), consulting returned to growth (+2%) with a growing Gen AI consulting book (> $1.5B in the quarter) and a company-wide Gen AI book of business > $9.5B. Infrastructure grew 15%, led by a very strong z17 mainframe cycle (z17 driving both revenue and higher profitability). Productivity efforts have materially improved margins and cash generation — IBM now expects an annual run rate of ~$4.5B in productivity savings exiting the year and has generated $7.2B of FCF year-to-date. Management raised full-year targets: revenue growth now expected to be >5%, adjusted EBITDA growth in the mid-teens, and free cash flow of about $14B for 2025. Strategy and outlook highlights: continued focus on hybrid cloud + AI, commercialization of Granite models and product partnerships (Anthropic, Grok), tuck-in and strategic M&A discipline (targets must fit strategy, synergy, and 2-year cash accretion), and continued optimism for 2026 driven by durable ARR, Red Hat momentum, z17 monetization, and AI demand. Balance sheet and capital allocation: cash $14.9B, debt $63.1B (including financing receivables), returned $4.7B in dividends YTD, and management emphasizes disciplined M&A and shareholder returns funded by strong FCF.
