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Edge17 Oct 2025
A Castle in the Sky: The Story of Oracle
Oracle's journey from database innovator to disciplined enterprise backbone, now shaping the AI buildout with a standardized cloud infrastructure.
IBM
IBM (IBM) investor relations material
IBM Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary21 Oct, 2026
Executive summary
Q3 revenue was $17.103B, up 4.7% reported and 5.6% at constant currency; growth accelerated across Software, Infrastructure and Consulting, with operating pre-tax margin up 70 bps.
Results reinforced the software-led hybrid cloud and AI strategy, including momentum in Red Hat, Data and Distributed Infrastructure.
FY26 revenue growth guidance remains 4%–5%; free cash flow growth expectation rose to more than $1B.
Financial highlights
Operating pre-tax income was $3.3B, up 9%; operating diluted EPS was $2.95, up 11.3%.
GAAP net income was $2.2B versus $1.7B a year earlier.
Q3 operating cash flow was $4.0B, up $0.9B; free cash flow was $3.0B, up $0.7B.
9M free cash flow was $7.787B, up $606M; net cash from operating activities was $11.791B.
Outlook and guidance
FY26 constant-currency revenue growth remains 4%–5%; operating pre-tax margin expansion is expected at 100 bps and the operating tax rate in the mid-teens.
FY26 free cash flow growth expectation increased to more than $1B YoY, driven primarily by adjusted EBITDA and partly offset by higher CapEx, cash taxes and net interest expense.
FY Software growth expected at 7%–8%; Hybrid Cloud double-digit, Data mid-teens, Automation low-single-digit and Transaction Processing flat.
FY Infrastructure growth expected in the low single digits; Consulting growth expected in the low-to-mid single digits.
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Latest events from IBM
- Q4 growth spanned all segments as AI momentum doubled; FY24 FCF target is ~$12B.IBM
Q4 2023 - Q2 2026 revenue up 1% to $17.2B, with software growth and a 4–5% full-year outlook.IBMQ2 2026
- Record revenue and free cash flow growth in 2025, with strong 2026 outlook.IBMQ4 2025
- Q3 2025 delivered 9% revenue growth, margin expansion, and raised guidance, led by AI and hybrid cloud.IBMQ3 2025
- Q2 2025 delivered strong revenue, margin expansion, and raised free cash flow outlook above $13.5B.IBMQ2 2025
- Q3 Software revenue up 10%, strong cash flow, but pension charge led to GAAP net loss.IBMQ3 2024
- Q2 revenue reached $15.8B with strong Software growth and free cash flow guidance above $12B.IBMQ2 2024
- Q1 2025 delivered strong Software and AI growth, margin expansion, and robust free cash flow.IBMQ1 2025
- Record free cash flow and double-digit Software growth set up at least 5% revenue gains in 2025.IBMQ4 2024
Next IBM earnings date
Q4 202627 Jan, 2027
IBM
Next IBM earnings date
Q4 202627 Jan, 2027
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Frequently asked questions
The creators of the first commercial computer
IBM, International Business Machines Corporation, is a multinational technology company with a rich history dating back to 1911. Founded in the United States, IBM has played a significant role in the development and advancement of computer technology and information systems. Today, IBM operates as a provider of advanced technology solutions and consulting services.
A rich and storied history
Since its foundation in 1911 as the Computing-Tabulating-Recording Company (CTR), IBM has consistently demonstrated its commitment to innovation and technological advancement. Over the years, IBM has introduced numerous groundbreaking innovations that have shaped the course of computing history. These include the development of the first commercial computer, the IBM 650, in the 1950s, which revolutionized data processing capabilities. In the 1960s, IBM unveiled the iconic IBM System/360 mainframe computer, a breakthrough that standardized computer architectures and transformed the industry. The introduction of the IBM Personal Computer (PC) in the 1980s marked a significant milestone in personal computing, empowering individuals and businesses alike. More recently, IBM's advancements in artificial intelligence with IBM Watson have pushed the boundaries of cognitive computing. With a rich legacy of pioneering innovations, IBM continues to drive technological progress and shape the future of computing.
The IBM of today
IBM maintains a strong presence as a leading technology and consulting company. With a wide range of offerings, IBM provides businesses with advanced solutions tailored to their specific needs. This includes cutting-edge technologies such as artificial intelligence, cloud computing, cybersecurity, data analytics, and more. IBM's services encompass strategic consulting, software development, infrastructure management, and integrated solutions for industries like finance, healthcare, manufacturing, and more. Moreover, IBM continues to invest in emerging technologies, including quantum computing and hybrid cloud solutions. By leveraging their expertise, deep industry knowledge, and stellar reputation IBM has continued to stay relevant throughout the years. Some of their most notable competitors include Microsoft, Oracle, and SAP SE.
A behemoth of the industry
IBM serves a diverse range of clients across industries and sectors. Their clients include large enterprises, government agencies, educational institutions, and organizations of varying sizes. In the finance sector, IBM's solutions are employed by banks, insurance companies, and financial institutions to optimize operations, enhance cybersecurity, and drive digital transformation. In healthcare, IBM collaborates with hospitals, healthcare providers, and research organizations to improve patient care, manage data securely, and advance medical research. IBM's technology and consulting services are also utilized by manufacturing companies to enhance supply chain management, implement IoT solutions, and optimize production processes. Additionally, IBM serves clients in fields such as retail, energy, telecommunications, transportation, and more, offering tailored solutions to address their specific needs and challenges.