Summary by Moomoo AI
IBM Corp has announced an update to its reportable segments which will take effect in the first quarter of 2024. This update is intended to better reflect how the company manages its operations and allocates resources. Despite these changes, there will be no impact on IBM's consolidated results. The company has provided recast historical segment financials for the years 2022 and 2023, along with reconciliations of non-GAAP financial measures to GAAP, which are available on its Investor Relations website. This information, included in Exhibit 99.1 of the Form 8-K filed with the SEC, is furnished and not filed, thus not subject to Section 18 of the Securities Exchange Act of 1934. The announcement was made on February 26, 2024, and the details were officially reported in a Form 8-K filed on March 18, 2024.
