| IBM |
Report |
Q2 revenue |
IN-LINE |
pred ~$17.20B vs. cons $17.20B |
HIGH |
| IBM |
Report |
Q2 adjusted EPS |
IN-LINE |
pred ~$2.93 vs. cons $2.93 |
HIGH |
| IBM |
Report |
Q2 Software revenue growth |
IN-LINE |
pred ~5.0% vs. cons 5.0% |
HIGH |
| IBM |
Guide |
Constant-currency revenue growth |
LOWER |
guide ~3.5% vs. cons 4.0% (FY2026) |
MEDIUM |
| IBM |
Guide |
Software revenue growth |
LOWER |
guide ~7.0% vs. cons 8.0% (FY2026) |
MEDIUM |
| IBM |
Guide |
Free cash flow |
LOWER |
guide ~$14.8B vs. cons $15.2B (FY2026) |
MEDIUM |
| IBM |
Guide |
Operating pretax-margin expansion |
LOWER |
guide ~50 bps vs. cons 70 bps (FY2026) |
MEDIUM |
| IBM |
Return |
Day-1 residual (stock − beta × S&P 500) |
-3.5% |
— |
MEDIUM |
| IBM |
Return |
5-day cumulative residual |
-6.5% (FOLLOW-THROUGH) |
The reported quarter is already priced in, but guidance near 3.5% constant-currency revenue growth and 7.0% Software growth versus consensus of 4.0% and 8.0% would force second-half and FY2027 estimate cuts. Free cash flow near $14.8B versus $15.2B consensus would weaken the valuation floor, allowing negative revisions to drive additional downside after day 1. |
MEDIUM |