In Q2 of 2022, IBM’s revenue was $15.54 billion, with a year-on-year increase of 9% From IBM financial report

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The following is the In Q2 of 2022, IBM’s revenue was $15.54 billion, with a year-on-year increase of 9% From IBM financial report recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report.

IBM shares fell more than 4% after hours on Monday, after the company released a second quarter earnings report that exceeded expectations, but lowered its free cash flow forecast for 2022. The financial report showed that IBM’s adjusted earnings per share in the second quarter was $2.31, and the market expected $2.27; Revenue increased by 9% year-on-year to US $15.54 billion, and the market is expected to be US $15.18 billion.

The company’s revenue from continuing operations increased to $1.47 billion in the quarter from $810 million in the same period last year. In November, IBM split kyndryl, its managed infrastructure services business, and the sale of kyndryl increased IBM’s revenue.

IBM management expects to achieve free cash flow of US $10billion in 2022, lower than the forecast range of US $10billion to US $10.5 billion in April. Jim Kavanaugh, chief financial officer of IBM, blamed the strong dollar and the suspension of business in Russia.

The company’s software revenue in the second quarter was $6.17 billion, an increase of 6%, but lower than the market expectation of $6.3 billion; The revenue of the consulting department was $4.81 billion, an increase of nearly 10%, exceeding the market expectation of $4.67 billion; The revenue of the infrastructure sector (including mainframe computers) was $4.24 billion, an increase of nearly 19%, much higher than the market expectation of $3.79 billion.

IBM’s gross profit margin in the second quarter narrowed to 53.4% from 55.2% in the same period last year. The company said that the competitive labor market affected the performance of its consulting department, continuing the trend earlier this year. The company has been trying to solve this problem by charging higher contract rates. It is expected that the annual pre tax profit margin will be 9% to 10%, with a year-on-year increase of more than 1 percentage point.

IBM shares fell 1.28% to $138.13 on Monday. The stock is up 3% so far this year, while the S & P 500 index is down about 20% in the same period.

Read more: IBM financial report: Q3 IBM net profit in 2016 was $2.853 billion, a year-on-year decrease of 3.3% IBM financial report: Q2 IBM net profit in 2020 was $1.361 billion, a year-on-year decrease of 45.5% IBM financial report: Q4 IBM revenue in 2020 was $20.4 billion, a year-on-year decrease of 66% IBM financial report: Q3 IBM net profit in 2021 was $1.13 billion, a year-on-year decrease of 33% IBM financial report: Q2 IBM revenue in 2019 was $19.2 billion, a year-on-year decrease of 4.2% IBM financial report: Q4 IBM net profit in 2019 was $3.67 billion, a year-on-year increase of 88.1% Financial report: Q4 IBM’s fourth quarter revenue in 2021 was $16.7 billion, a year-on-year increase of 6.5% IBM financial report: Q2 IBM’s net profit in 2021 was $1.33 billion, a year-on-year decrease of 3% IBM financial report: Q1 IBM’s net profit in 2019 was $1.59 billion, a year-on-year decrease of 5% IBM financial report: Q4 IBM’s net profit in 2015 was $4.5 billion, a year-on-year decrease of 19% IBM financial report: Q2 IBM’s net profit in 2015 was $3.45 billion, a year-on-year decrease of 17% IBM financial report: Q1 IBM’s revenue in 2015 was $19.6 billion, a year-on-year decrease of 12% IBM Net profit of $5.5 billion, down 11% year-on-year. IBM financial report: Q3 IBM net profit of $18million in 2014, down 99.6% year-on-year. IBM financial report: Q1 IBM net profit of $2.014 billion, down 13.5% year-on-year

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