1、 IBM RELEASES FIRST-QUARTER RESULTS IBM RELEASES FIRST-QUARTER RESULTS Software and Consulting Led Revenue Growth;Strong Gross Profit Margin Expansion Software and Consulting Led Revenue Growth;Strong Gross Profit Margin Expansion ARMONK,N.Y.,April 19,2023.IBM(NYSE:IBM)today announced first-quarter
2、2023 earnings results.“Our first quarter results demonstrate that clients continue turning to IBM for our unique combination of an open hybrid cloud platform,enterprise-focused AI,and business expertise to unlock productivity and drive efficiency in their operations,said Arvind Krishna,IBM chairman
3、and chief executive officer.This gives us confidence in our current growth expectations for revenue and free cash flow for the year.”First-Quarter Highlights First-Quarter Highlights Revenue Revenue of$14.3 billion,up 0.4 percent,up 4.4 percent at constant currency Software revenue up 3 percent,up 6
4、 percent at constant currency Consulting revenue up 3 percent,up 8 percent at constant currency Infrastructure revenue down 4 percent,flat at constant currency Cash Flow Net cash from operating activities of$3.8 billion,up$0.5 billion;free cash flow of$1.3 billion,up$0.1 billion FIRST QUARTER 2023 I
5、NCOME STATEMENT SUMMARY FIRST QUARTER 2023 INCOME STATEMENT SUMMARY Results include impact of charges for stranded costs related to portfolio actions*Pre-tax Pre-tax Diluted Diluted Gross Gross Pre-tax Pre-tax Income Income Net Net Earnings Earnings Revenue Revenue Profit Profit Income*Income*Margin
6、*Margin*Income*Income*Per Share*Per Share*GAAP from GAAP from Continuing Continuing Operations Operations$14.3B 14.3B$7.5B 7.5B$1.1B 1.1B 7.4 7.4%$0.9B 0.9B$1.02 1.02 Year/Year 0.4%*2%70%3.0 Pts 41%40%Operating Operating (Non-GAAP)(Non-GAAP)$7.7B 7.7B$1.4B 1.4B 10.2 10.2%$1.2B 1.2B$1.36 1.36 Year/Ye