American tech company IBM (NYSE: IBM) has come out ahead of expectations, for both earnings and revenue, in it's latest earnings report.
It's first quarter report showed that earnings per share came in at $1.60 adjusted compared to the $1.40 expected, while revenue came in at US$14.54 billion versus $14.4 billion expected, an increase of 0.6% from the same time a year earlier .
As a result, the forecast for the full year has been maintained, despite global economic uncertainties with the State's current presidential administration, which IBM's CEO Arvind Krishna described as a “fluid” situation economically, during an interview to CNBC.
Net income fell from $1.61 billion to to 1.06 billion, compared to Q1 in 2024.
For the year ahead, the tech company stayed firm on expectations and guidance, including for $13.5 billion in free cash flow and at least 5% constant currency revenue growth.
It also said it expects second-quarter revenue to land in the range of $16.40 billion to $16.75 billion.
“While sentiment and the operating environment have been rapidly shifting, our performance reflects the continued success of our focused strategy around hybrid cloud and AI, especially where clients are looking for cost savings, productivity gains and trusted partners to help them move fast and scale,” said Krishna on a conference call conducted for the earnings report.
“Before going deeper into our results, let me start by saying that we appreciate the administration’s focus on economic growth and rational regulation, which will strengthen the U.S. competitive position. We believe this will result in long-term value creation and make it easier for technology to contribute to economic growth.”
