Overview

• IBM exceeded Wall Street expectations with Q2 revenue of $16.98 billion and adjusted EPS of $2.80.
• AI-optimized z17 mainframe sales propelled infrastructure segment revenue up 14% to $4.14 billion.
• Consulting services revenue rebounded 3% to $5.31 billion, snapping five straight quarters of decline.
• Core software sales of $7.39 billion narrowly missed forecasts amid stagnant transaction-processing demand.
• The company’s AI bookings reached $7.5 billion, it launched the z17 mainframe, acquired Hakkoda, and raised its full-year free cash flow forecast beyond $13.5 billion.