IBM Reports 1Q2017 Financial Results

IBM today announced first-quarter earnings results for 2017.

Highlights included:

• Diluted EPS from continuing operations: GAAP of $1.85; Operating (non-GAAP) of $2.38
• Revenue from continuing operations of $18.2 billion
• Strategic imperatives revenue of $7.8 billion in the quarter, up 12 percent (up 13 percent adjusting for currency)
• Strategic imperatives revenue of $33.6 billion over the last 12 months represents 42 percent of IBM revenue
• Cloud revenue of $14.6 billion over the last 12 months
• Cloud as-a-Service annual exit run rate of $8.6 billion in the quarter, up 59 percent year to year (up 61 percent adjusting for currency)
• Maintains full-year EPS and free cash flow expectations.

 

“In the first quarter, both the IBM Cloud and our cognitive solutions again grew strongly, which fueled robust performance in our strategic imperatives,” said Ginni Rometty, IBM chairman, president and chief executive officer.  “In addition, we are developing and bringing to market emerging technologies such as blockchain and quantum, revolutionizing how enterprises will tackle complex business problems in the years ahead.”

You can see the full announcement here.