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International Business Machines IBM Q1 2026 earnings

Reported April 22, 2026 · After market close

Revenue$15.9BBeat by $286.2M
EPS$1.91Beat by $0.10
Revenue estimate$15.6B
EPS estimate$1.81

Next report

Oct 21, 2026 (in 2 months)
Revenue estimate$16.8B
EPS estimate$2.90

Financials

Q1 2026

Income statement

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Revenue$15.9B+9.5%
Gross profit$8.9B+11.4%
Net income$1.2B+15.3%
EPS (diluted)$1.28+14.3%

Balance sheet

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Cash & equivalents$10.9B-2.7%
Total debt$77.4B+4.9%
Total equity$33.0B+22.7%
Total assets$156.23B+7.3%

Cash flow

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Operating cash flow$5.2B+18.3%
CapEx$232.0M-4.9%
Free cash flow$4.9B+19.7%

Valuation & ratios

Valuation

as of 03/31/26
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Market cap$227.46B-1.3%
Enterprise value$293.95B+0.3%
P/E21.2×-21.0×
P/S3.3×-0.4×

Profitability

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Gross margin58.4%+1.3pp
Net margin15.6%+6.9pp
FCF margin18.7%-1.3pp

Returns & leverage

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Return on equity35.9%+14.1pp
Debt / equity2.3×-0.4×
Current ratio0.8×-0.2×

Segments

By segment

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Software$7.1B+11.3%
Consulting$5.3B+4.0%
Infrastructure$3.3B+15.2%

By geography

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Americas$7.9B+9.1%
Europe/Middle East/Africa$5.2B+15.2%
Asia Pacific$2.8B+1.1%

FAQ

When did International Business Machines report Q1 2026 earnings?
International Business Machines (IBM) reported Q1 2026 earnings on April 22, 2026 after market close.
What were International Business Machines's Q1 2026 revenue and EPS?
International Business Machines reported revenue of $15.9B and eps of $1.91 for Q1 2026.
Did International Business Machines beat estimates in Q1 2026?
Revenue beat the consensus estimate of $15.6B by $286.2M. EPS beat the consensus estimate of $1.81 by $0.10.
How did International Business Machines's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.5% from $14.5B a year earlier and eps grew 19.4% from $1.60.
Where can I find International Business Machines's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000051143-26-000036) and the 10-Q periodic report (0000051143-26-000038) directly on SEC EDGAR. The filing index links above go to sec.gov.