IBM Beats Earnings Estimates, Raises Cash Flow Outlook as Shares Dip
Summary
IBM reports Q2 earnings exceeding estimates and raises full-year free cash flow outlook, but software revenue misses expectations and gross margin narrows, causing shares to dip as much as 6% in extended trading despite outperforming the S&P 500 significantly this year.
Key Points
- IBM reports stronger than expected Q2 earnings and raises full-year free cash flow forecast.
- Software revenue misses consensus and gross margin in the software business narrows.
- IBM shares drop as much as 6% in extended trading despite outperforming the S&P 500 significantly this year.