Shares Of IBM Quiet Following Earnings Print: Here's What You Need To Know
Portfolio Pulse from AJ Fabino
IBM reported Q2 earnings of $2.18 per share, beating the $2.01 estimate, but missed revenue estimates with $15.47 billion against the $15.57 billion consensus. The company's net cash from operating activities is up $1.8 billion to $6.4 billion, and free cash flow is up $100 million to $3.4 billion. IBM expects full-year 2023 free cash flow at $10.5 billion. The company ended Q2 with $16.3 billion in cash and marketable securities, up $7.5 billion from year-end 2022. IBM's shares traded 0.89% higher to $135.48 at market close, but fell 0.87% in after-hours trading.
July 19, 2023 | 8:45 pm
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IBM's Q2 earnings beat estimates but missed on revenue. The company's cash position and free cash flow have increased, and it expects full-year 2023 free cash flow at $10.5 billion. Shares traded higher at market close but fell in after-hours trading.
IBM's mixed Q2 results, with earnings beating estimates but revenue missing, may lead to uncertainty among investors. The company's increased cash position and free cash flow are positive signs, but the after-hours drop in share price indicates some investor skepticism.
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