IBM (NYSE: IBM)
- GAAP: $2.61, up 13 percent;
- Operating (non-GAAP): $2.78, up 15 percent;
- GAAP: $3.1 billion, up 7 percent;
- Operating (non-GAAP): $3.3 billion, up 9 percent;
Gross profit margin:
- GAAP: 45.1 percent, up 0.9 points;
- Operating (non-GAAP): 45.7 percent, up 1.2 points;
- Revenue: $24.7 billion, flat, up 1 percent adjusting for currency;
- Free cash flow of $1.9 billion, up $1.1 billion;
- Software revenue up 5 percent, 7 percent adjusting for currency;
Services revenue up 1 percent:
- Services pre-tax income up 11 percent;
- Services backlog of $139 billion, down 2 percent, up 1 percent adjusting for currency;
- Systems and Technology revenue down 7 percent, 6 percent adjusting for currency;
- Growth markets revenue up 9 percent;
- Business analytics revenue up 14 percent;
- Smarter Planet revenue up more than 25 percent;
- Cloud revenue doubled first-quarter 2011 revenue;
- Full-year 2012 operating (non-GAAP) EPS expectations raised to at least $15.00 from at least $14.85.
IBM (NYSE: IBM) today announced first-quarter 2012 diluted earnings of $2.61 per share, compared with diluted earnings of $2.31 per share in the first quarter of 2011, an increase of 13 percent. Operating (non-GAAP) diluted earnings were $2.78 per share, compared with operating diluted earnings of $2.41 per share in the first quarter of 2011, an increase of 15 percent.
First-quarter net income was $3.1 billion compared with $2.9 billion in the first quarter of 2011, an increase of 7 percent. Operating (non-GAAP) net income was $3.3 billion compared with $3.0 billion in the first quarter of 2011, an increase of 9 percent.
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