Debt, including Global Financing debt of $21.9 billion, totaled $64.7 billion. Highlights for the second quarter include: Results Reflect the Impact of Items Related to, the Red Hat Acquisition Closed in July 2019, “Our prudent financial management in these turbulent times enabled us to expand our gross profit margin, generate strong free cash flow and improve our liquidity position," said James Kavanaugh, IBM senior vice president and chief financial officer.


In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (GAAP), the company has also disclosed in this press release the following non-GAAP information, which management believes provides useful information to investors: The rationale for management’s use of these non-GAAP measures is included in Exhibit 99.2 in the Form 8‑K that includes this press release and is being submitted today to the SEC. Accelerated Cloud Revenue Growth; Gross Margin Expansion; Strong Balance Sheet and Liquidity Position. But Repos, Swaps, SPVs Mothballed, Vertex: Recent Clinical Setback Underscores The Need To Expand The Pipeline (NASDAQ:VRTX), Markets report: Funding round sees Shaftesbury dive, Efforts to ensure export control law implementation, Radiation ‘Sniffer’ Helicopter Takes Flight Above Washington, DC, Trust and compliance with public health policies in the time of COVID-19. We'll assume you're ok with this, but you can opt-out if you wish. Notes and accounts receivable - trade, net, Prepaid expenses and other current assets, Accumulated other comprehensive income/(loss). This category only includes cookies that ensures basic functionalities and security features of the website. The Global Business Services unit had $3.89 billion in revenue, which was down 7% and slightly higher than the $3.87 billion consensus. Source link, US President Donald Trump and Democratic Presidential candidate and former US Vice President Joe Biden argue during the final presidential. IBM did not update its full-year guidance. Is That a Good Idea? adjusting for currency (i.e., at constant currency); total revenue and cloud revenue adjusting for divested businesses and currency; Red Hat revenue normalized for historical comparability; presenting operating (non-GAAP) earnings per share amounts and related income statement items; net cash from operating activities, excluding Global Financing receivables. Please check back for updates. The Global Business Services unit had $3.89 billion in revenue, which is down 7% and slightly higher than the $3.87 billion consensus. It’s the company’s second consecutive quarter of revenue decline as the coronavirus hit the company’s results. IBM’s Cloud and Cognitive Software segment, which includes Red Hat, produced $5.75 billion in revenue. (3) Represents the second-quarter 2020 impact of the deferred revenue purchase accounting adjustment and adjustments to add back revenue which was eliminated for sales between Red Hat and IBM. IBM’s free cash flow was $2.3 billion. IBM’s regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. EDT, today. The company’s net income, which came out to $1.36 billion, was down 46%. In April IBM withdrew its guidance for the full year because of the pandemic. Revenue from IBM’s Global Technology Services category totaled $6.32 billion, down almost 8% year over year and above the FactSet consensus of $6.24 billion. There are no consensus estimates for IBM's cloud sales for Q3, but its growth has accelerated dramatically in recent quarters, rising by 31.3% in Q2 2020 even as overall revenue declined. Winter Sports Athletes Are Crisscrossing Europe for Races. However, the company improved gross margins in three of its five units, partly thanks to job cuts. Includes amortization of purchased intangible assets, in process R&D, transaction costs, applicable restructuring and related expenses, tax charges related to acquisition integration and pre-closing charges, such as financing costs. In the quarter IBM announced cloud business from Movius and Prysmian Group, and it told the News & Observer newspaper in North Carolina that it was cutting a number of employees. In the second quarter, the company generated net cash from operating activities of $3.6 billion, or $3.0 billion excluding Global Financing receivables. Presentation of Information in this Press Release. INTERNATIONAL BUSINESS MACHINES CORPORATION, (Unaudited; Dollars in millions except per share amounts), Intellectual property and custom development income, Provision for / (Benefit from) income taxes, Income / (Loss) from discontinued operations, net of taxes, EARNINGS / (LOSS) PER SHARE OF COMMON STOCK, WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (M’s).

IBM did not update its full-year guidance.

Please check back for updates.

IBM earnings Q2 2020. IBM enjoyed a rare top line beat late Monday as cloud revenues surged 30% from last year to $6.3 billion, helping new CEO Arvind Krishna post stronger-than-expected second quarter earnings.
IBM shares rose more than 6% in extended trading on Monday after the company reported second-quarter earnings that were better than analysts had expected. Operating (non-GAAP) diluted earnings per share from continuing operations was $4.02 compared with $5.42 per diluted share for the 2019 period, a decrease of 26 percent. Constant Covid cleaning carries its own dangers, A patchwork of red, yellow and green – A second wave of covid-19 sends much of Europe back into lockdown | Europe, Taiwan Semiconductor Manufacturing Company Could Still Be Heading For A Correction (NYSE:TSM), Russian Destroyers Are Escorting Iranian Tankers In Mediterranean Amid US-UK Threats, In Anhui, GDP up over first three quarters, Major airline groups push for end to coronavirus quarantines, travel bans, Oil Production Cuts Could Be Extended: Putin, Barclays recovers as bad debt charges fall, Revised Data Show Initial Claims Plateauing, Beskæftigelsen er faldet i næsten hele EU, ‘It was carnage’: Nigeria reels from bullets and brutality of protest crackdown, China’s Hainan sees GDP rise 1.1% in Jan-Sept period, A Warning Concerning the Financial Condition of US Cities, Turkey Vows National Troops To Help Azerbaijan If Requested, Global stocks hold tight ranges as U.S. election caution sets in, PE firms seek to lure yield-hungry investors with risky PIK deals, In need of a new edifice – Chile’s momentous referendum on its constitution | The Americas, Regis Resources Ltd (RGRNF) CEO Jim Beyer on Q1 2021 Results – Earnings Call Transcript, Facebook Takes Aim At Nextdoor With New “Neighborhoods” Feature, US slaps sanctions on Iran’s envoy to Iraq, citing links to Quds Force & militia groups, The final Trump-Biden debate: five key moments, Blockbuster Report Reveals How Biden Family Was Compromised By China, California drivers sue Uber over in-app messages asking to support ballot measure, How Africa fought the pandemic — and what coronavirus has taught the world, 149 Years Of Higher Returns For Lower Risk, Denmark’s #MeToo moment as women open up on harassment, Walmart sues federal government over opioid case, Hermès and Kering add to signs of luxury goods recovery, Russophrenia… Or How A Collapsing Country Runs The World, Free exchange – Can too many brainy people be a dangerous thing? Revenues for the six-month period ended June 30, 2020 totaled $35.7 billion, a decrease of 4 percent year to year (down 1 percent adjusting for divested businesses and currency) compared with $37.3 billion for the first six months of 2019. This is breaking news. US is pressing the accelerator to trash relations with China, Hong Kong is a ‘pawn’ in U.S.-China rivalry, ex-Singapore diplomat says, New York City hospital criticized for slow coronavirus protections, Amazon Prime Air team building coronavirus face shields, Final presidential debate 2020: Trump vs. Biden highlights, Biden leads Trump in polls with less than 2 weeks to go in campaign, Southwest Airlines posts biggest-ever loss as coronavirus slams demand, Microsoft to buy jet fuel made with waste oil for Alaska Airlines in climate pledge, New cases in India below 60,000 for 5th day.

This compares to earnings of … IBM Any forward-looking statement in this release speaks only as of the date on which it is made. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Operating (non-GAAP) net income for the six months ended June 30, 2020 was $3.6 billion compared with $4.8 billion in the prior-year period, a decrease of 26 percent. Revenue from IBM’s Global Technology Services category totaled $6.32 billion, down almost 8% year over year and above the FactSet consensus of $6.24 billion. The company’s net income, which came out to $1.36 billion, was down 46%. ARMONK, N.Y.--(BUSINESS WIRE)--IBM (NYSE: IBM) today announced second-quarter 2020 earnings results. Stock futures little changed as traders monitor stimulus talks, FDA approves remdesivir as global COVID-19 total tops 41 million, Chinese fintech giant Lufax seeks up to $2.36 billion in U.S. IPO, How the coronavirus crisis is hitting young people so hard, Tackling food insecurity in the U.S. as hunger grows due to COVID-19 pandemic, FDA approves first COVID-19 drug: antiviral remdesivir. IBM’s Cloud and Cognitive Software segment, which includes Red Hat, produced $5.75 billion in revenue.

"We have the financial flexibility to continue to invest in our business and return value to our shareholders through our dividend policy.”. “Our clients see the value of IBM’s hybrid cloud platform, based on open technol It is mandatory to procure user consent prior to running these cookies on your website.

That’s up 3% and barely above than the $5.74 billion FactSet consensus. And Arvind Krishna started his job as IBM’s CEO on April 6. Forward-Looking and Cautionary Statements. 2020-07-202020-07-20 By finanz.dk.


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