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IBM Corp | 8-K: Prepared Remarks of Earnings Presentation on October 23, 2024

IBM Corp | 8-K: Prepared Remarks of Earnings Presentation on October 23, 2024

IBM Corp | 8-K:2024年10月23日收益报告准备发言稿
美股SEC公告 ·  2024/10/24 20:14

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IBM delivered mixed Q3 2024 results with revenue up 2% to $15.0 billion, driven by accelerated Software growth of 10% including Red Hat up 14%. The company's generative AI business surpassed $3 billion inception-to-date, up $1 billion quarter-over-quarter, with roughly 20% from software and 80% from consulting signings.Operating pre-tax income grew 8% with margins expanding 100 basis points, while free cash flow reached $6.6 billion year-to-date, up $1.5 billion year-over-year. Software performance was strong across key platforms, with Hybrid Platform & Solutions ARR reaching $14.9 billion, up 11%. However, Consulting remained flat amid macro uncertainties, while Infrastructure declined 7% due to product cycle dynamics.For Q4 2024, IBM expects revenue growth similar to Q3 levels, with Software projected at low double-digit growth led by Red Hat. The company raised its full-year operating pre-tax margin expansion target to about one point and maintained its free cash flow guidance above $12 billion. Management expressed confidence in growth trajectory for 2025, supported by Software acceleration, Red Hat opportunities, new mainframe cycle, and GenAI positioning.
IBM delivered mixed Q3 2024 results with revenue up 2% to $15.0 billion, driven by accelerated Software growth of 10% including Red Hat up 14%. The company's generative AI business surpassed $3 billion inception-to-date, up $1 billion quarter-over-quarter, with roughly 20% from software and 80% from consulting signings.Operating pre-tax income grew 8% with margins expanding 100 basis points, while free cash flow reached $6.6 billion year-to-date, up $1.5 billion year-over-year. Software performance was strong across key platforms, with Hybrid Platform & Solutions ARR reaching $14.9 billion, up 11%. However, Consulting remained flat amid macro uncertainties, while Infrastructure declined 7% due to product cycle dynamics.For Q4 2024, IBM expects revenue growth similar to Q3 levels, with Software projected at low double-digit growth led by Red Hat. The company raised its full-year operating pre-tax margin expansion target to about one point and maintained its free cash flow guidance above $12 billion. Management expressed confidence in growth trajectory for 2025, supported by Software acceleration, Red Hat opportunities, new mainframe cycle, and GenAI positioning.
IBM发布了2024年第三季度的混合财报,营业收入同比增长2%,达到150亿,主要受到软件增长加速10%的推动,其中Red Hat增长14%。该公司的生成性人工智能业务自成立以来超过30亿,同比增加10亿,约20%来自软件,80%来自咨询签约。税前营业收入增长8%,利润率扩展了100个基点,而自由现金流年初至今达到66亿,比去年同期增加15亿。软件性能在主要平台上表现强劲,混合平台及解决方案的年度经常性收入达到149亿,增长11%。然而,由于宏观不确定性,咨询业务保持平稳,而制造行业因产品周期动态下降7%。对于2024年第四季度,IBM预计营业收入增长与第三季度相似,软件预计实现低双位数增长,主要受Red Hat推动。公司将全年的税前营业利润率扩展目标提高至约一个百分点,并维持其自由现金流指引在120亿以上。管理层对2025年增长轨迹表示信恳智能,受到软件加速、Red Hat机会、新主机周期和生成性人工智能定位的支持。
IBM发布了2024年第三季度的混合财报,营业收入同比增长2%,达到150亿,主要受到软件增长加速10%的推动,其中Red Hat增长14%。该公司的生成性人工智能业务自成立以来超过30亿,同比增加10亿,约20%来自软件,80%来自咨询签约。税前营业收入增长8%,利润率扩展了100个基点,而自由现金流年初至今达到66亿,比去年同期增加15亿。软件性能在主要平台上表现强劲,混合平台及解决方案的年度经常性收入达到149亿,增长11%。然而,由于宏观不确定性,咨询业务保持平稳,而制造行业因产品周期动态下降7%。对于2024年第四季度,IBM预计营业收入增长与第三季度相似,软件预计实现低双位数增长,主要受Red Hat推动。公司将全年的税前营业利润率扩展目标提高至约一个百分点,并维持其自由现金流指引在120亿以上。管理层对2025年增长轨迹表示信恳智能,受到软件加速、Red Hat机会、新主机周期和生成性人工智能定位的支持。
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