IBMIBMEarnings & Financial Report
International Business Machines Corporation, doing business as IBM, is an American multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is a publicly traded company and one of the 30 companies in the Dow Jones Industrial Average. IBM is the largest industrial research organization in the world, with 19 research facilities across a dozen countries; for 29 consecutive years, from 1993 to 2021, it held the record for most annual U.S.
Revenue
$16.3B
Gross Profit
$9.4B
Operating Profit
$2.4B
Net Profit
$1.7B
Gross Margin
57.3%
Operating Margin
14.9%
Net Margin
10.7%
YoY Growth
9.1%
EPS
$1.84
IBM Q3 FY2025 Financial Summary
IBM reported revenue of $16.3B (up 9.1% YoY) for Q3 FY2025, with a net profit of $1.7B (up 628.5% YoY) (10.7% margin). Cost of goods sold was $7.0B, operating expenses totaled $6.9B.
Key Financial Metrics
| Total Revenue | $16.3B |
|---|---|
| Net Profit | $1.7B |
| Gross Margin | 57.3% |
| Operating Margin | 14.9% |
| Report Period | Q3 FY2025 |
Revenue Breakdown
IBM Q3 FY2025 revenue of $16.3B breaks down across 9 segments, led by Strategy And Technology at $2.9B (17.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Strategy And Technology | $2.9B | 17.8% |
| Intelligent Operations | $2.4B | 14.8% |
| Hybrid Infrastructure | $2.3B | 13.9% |
| Automation | $1.9B | 11.8% |
| Transaction Processing | $1.9B | 11.8% |
| Hybrid Cloud | $1.9B | 11.5% |
| Data | $1.5B | 8.9% |
| Infrastructure Support | $1.3B | 7.9% |
| Financial Service | $200.0M | 1.2% |
IBM Revenue by Segment — Quarterly Trend
IBM revenue by segment across the last 4 reported quarters, showing how each business line (such as Strategy And Technology and Intelligent Operations) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Strategy And Technology | — | — | $2.9B | $2.9B |
| Intelligent Operations | — | — | $2.4B | $2.4B |
| Hybrid Infrastructure | — | — | $2.3B | $2.9B |
| Automation | — | — | $1.9B | $1.9B |
| Transaction Processing | — | — | $1.9B | $2.2B |
IBM Annual Revenue by Year
IBM annual revenue history includes year-by-year totals (for example, 2025 revenue was $67.5B).
| Year | Annual Revenue |
|---|---|
| 2025 | $67.5B |
| 2024 | $62.8B |
| 2023 | $61.9B |
| 2022 | $60.5B |
IBM Quarterly Revenue & Net Profit History
IBM results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $15.9B | +9.7% | $1.2B | 7.6% |
| Q4 FY2025 | $19.7B | +12.2% | $5.6B | 28.4% |
| Q3 FY2025 | $16.3B | +9.1% | $1.7B | 10.7% |
| Q2 FY2025 | $17.0B | +7.7% | $2.2B | 12.9% |
| Q1 FY2025 | $14.5B | +0.5% | $1.1B | 7.3% |
| Q4 FY2024 | $17.6B | +1.0% | $2.9B | 16.6% |
| Q3 FY2024 | $15.0B | +1.5% | $-330.0M | -2.2% |
| Q2 FY2024 | $15.8B | +1.9% | $1.8B | 11.6% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.77B | $14.97B | $17.55B | $14.54B | $16.98B | $16.33B | $19.69B | $15.90B |
| YoY Growth | 1.9% | 1.5% | 1.0% | 0.5% | 7.7% | 9.1% | 12.2% | 9.7% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $133.85B | $134.34B | $137.18B | $145.67B | $148.59B | $146.31B | $151.88B | $156.23B |
| Liabilities | $109.75B | $109.81B | $109.78B | $118.71B | $121.00B | $118.32B | $119.14B | $123.17B |
| Equity | $24.03B | $24.45B | $27.31B | $26.88B | $27.51B | $27.91B | $32.65B | $33.06B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $2.07B | $2.88B | $4.33B | $4.37B | $1.70B | $3.08B | $4.04B | $5.17B |