IBM (NYSE:IBM) reported first-quarter results after Wednesday's closing bell, beating Street estimates on the top and bottom lines.

IBM Q1 Details

IBM reported quarterly earnings of $1.91 per share, which beat analyst estimates of $1.81 by 5.52%, according to Benzinga Pro data. 

Quarterly revenue of $15.92 billion beat the consensus estimate of $15.62 billion and was up from $14.54 billion in the prior year’s quarter.

IBM reported the following first-quarter highlights:

  • Revenue
    – Revenue of $15.9 billion, up 9%, up 6% at constant currency
    – Software revenue up 11%, up 8% at constant currency
    – Consulting revenue up 4%, up 1% at constant currency
    – Infrastructure revenue up 15% up 12% at constant currency
  • Profit
    – Gross Profit Margin: Non-GAAP 57.7%, up 110 basis points
    – Pre-Tax Income Margin: Non-GAAP: 13.4%, up 140 basis points

Outlook: IBM expects more than 5% constant currency growth and an increase of approximately $1 billion in year-over-year cash flow in 2026.

IBM Stock Price: According to data from Benzinga Pro, IBM stock was down 6.46% to $235.60 in Wednesday's extended trading.  

Watch the IBM Q1 2026 earnings call live:

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