Summary by Moomoo AI
IBM Corp reported a solid financial performance for the second quarter of 2024, with revenue increasing to $15.8 billion, a 1.9% rise from the previous year. The company's income from continuing operations saw a significant 15.8% increase to $1.8 billion, while net income also rose by 15.9% to $1.834 billion. Diluted earnings per share from continuing operations grew by 14.0% to $1.96. Adjusted for currency, the year-to-year revenue growth was 3.8%. IBM's gross profit margin improved by 1.8 points to 56.8%, reflecting the company's focus on high-value segments. The operating (non-GAAP) earnings were $2.3 billion, with a diluted operating (non-GAAP) earnings per share of $2.43, marking an 11.5% increase. The company's cash flow remained strong, with $2.1 billion generated from operations and $2.6 billion in free cash flow...Show More
