IBM

Q4 Results Q/Q Comparison

  • Revenue decreased 1% to $21.8B
  • GAAP Diluted EPS increased 3% $4.73
    • GAAP Net Income increased 1% to $4.5B
  • Non-GAAP Diluted EPS increased 4% to $5.01
    • Non-GAAP Net Income increased 1% to $4.8B
  • Non-GAAP gross profit margin was 51.0%, down 180 basis points
  • Strategic Imperatives—cloud, analytics, mobile, security and social—increased 12% to $9.5B
  • Business segments (constant-currency basis):
    • Cognitive Solutions (includes solutions software and transaction processing software): Revenue increased 2.2%
    • Global Business Services (includes consulting, global process services, application management): Revenue decreased 3.6%
    • Technology Services and Cloud Platforms (includes infrastructure services, technical support services, integration software): Revenue increased 2.4%
    • Systems (includes systems hardware and operating systems software): Revenue decreased 12.1%, due to Z System product cycle dynamics
    • Global Financing (includes financing and used equipment sales): Revenue decreased 2.1%

Full-Year 2016:

  • Revenue decreased 2% to $79.9B
  • GAAP Diluted EPS decreased 9% $12.39
    • GAAP Net Income decreased 11% to $11.9B
  • Non-GAAP Diluted EPS decreased 9% to $13.59
    • Non-GAAP Net Income decreased 11% to $13.0B
  • Strategic Imperatives—cloud, analytics, mobile, security and social—increased 14% to $32.8B
  • Non-GAAP gross profit margin was 48.9%, down 190 basis points
  • Free cashflow of $11.6B
  • Returned $8.8B to shareholders (dividends of $5.3B and share repurchases of $3.5B)
  • Ended the year with cash of $8.5B and debt (non-Global Finance) of $14.3B
  • Full-year 2017 guidance: adjusted EPS of at least $13.80

Stock Price: $167
Market Capitalization: $161 billion

January 19, 2017

 

 

 


 


 

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