Revenue Up 5 Percent Year to Year; Improving Gross Margin Trajectory
Highlights
- Revenue of $19.1 billion, up 5 percent (flat adjusting for currency)
- Gross margin reflects broad-based improvement in year-to-year performance compared to fourth quarter
- GAAP EPS from continuing operations of $1.81; Operating (non-GAAP) EPS of $2.45, up 4 percent
- Strategic imperatives revenue of $37.7 billion over last 12 months, up 12 percent (up 10 percent adjusting for currency); represents 47 percent of IBM revenue
- Cloud revenue of $17.7 billion over last 12 months, up 22 percent (up 20 percent adjusting for currency)
- As-a-service annual exit run rate for cloud revenue of $10.7 billion in the quarter, up 25 percent year to year (up 20 percent adjusting for currency)
- Maintains full-year operating (non-GAAP) EPS and free cash flow expectations
ARMONK, N.Y., April 17, 2018 . . . IBM (NYSE: IBM) today announced first-quarter results.
“In the first quarter we maintained momentum in our business, with reported revenue growth in total and across our major segments,” said Ginni Rometty, IBM chairman, president and chief executive officer. “These results reinforce that our clients value our innovative technologies, our industry expertise and our commitment and actions for the responsible stewardship of their privacy and data. This is also reflected in our leadership positions in enterprise cloud, AI and security.”
More at http://newsroom.ibm.com/2018-04-17-IBM-Reports-2018-First-Quarter-Results