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IBM (IBM) Q2 2026 (USD): EPS 2.27 (exp. 2.90), Revenue 17.2bln (exp. 17.578bln)

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IBM missed Q2 expectations due to delayed enterprise deals and lower software/consulting growth, leading to a downward revision of its full-year revenue growth guidance to +4% to +5%.

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Software revenue 7.76bln (exp. 7.99bln) Consulting revenue 5.33bln (exp. 5.39bln) FCF 2.54bln (exp. 2.95bln) Sees FY rev. (constant FX) +4% to +5% (prev. above +5%) Still on track to deliver a quantum computer by 2029.

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