1、IBM RELEASES THIRD-QUARTER RESULTS Accelerated Software revenue growth,expanded gross profit margin,and strong free cash flow ARMONK,N.Y.,October 23,2024.IBM(NYSE:IBM)today announced third-quarter 2024 earnings results.“Our third-quarter performance was led by double-digit growth in Software,includi

2、ng a re-acceleration in Red Hat.We continue to see great momentum in AI as our models are trusted,fit-for-purpose,and lower cost,with performance leadership.Our generative AI book of business now stands at more than$3 billion,up more than$1 billion quarter to quarter,said Arvind Krishna,IBM chairman

3、,president and chief executive officer.Heading into the final quarter of 2024,we expect fourth-quarter constant currency revenue growth to be consistent with the third quarter,with continued strength in Software.We are confident in our ability to deliver more than$12 billion in free cash flow for th

4、e year,driven by continued expansion of our operating margins.Third-Quarter Highlights Revenue Revenue of$15.0 billion,up 1 percent,up 2 percent at constant currency Software revenue up 10 percent Consulting revenue flat Infrastructure revenue down 7 percent Profit Gross Profit Margin:GAAP:56.3 perc

5、ent,up 190 basis points;Operating(Non-GAAP):57.5 percent,up 210 basis points Cash Flow Year to date,net cash from operating activities of$9.1 billion;free cash flow of$6.6 billion THIRD-QUARTER 2024 INCOME STATEMENT SUMMARY GAAP results include impact of one-time,non-cash pension settlement charge(1

6、)Revenue Gross Profit Gross Profit Margin Pre-tax Income/(Loss)(1)Pre-tax Income Margin(1)Net Income/(Loss)(1)Diluted Earnings/(Loss)Per Share(1)GAAP from Continuing Operations$15.0 B$8.4 B 56.3%$(0.8)B (5.4)%$(0.3)B$(0.34)Year/Year 1%(2)5%1.9 Pts NM -18.1 Pts NM NM Operating (Non-GAAP)$8.6 B 57.5%$