国际商业机器公司IBM Corp（IBM）2025年第三季度业绩报告「NYSE」（英文版）（13页）.pdf

1、 IBM RELEASES THIRD-QUARTER RESULTS Acceleration in revenue growth and profit across all segments;Raises outlook for full-year revenue growth and free cash flow ARMONK,N.Y.,October 22,2025.IBM(NYSE:IBM)today announced third-quarter 2025 earnings results.“This quarter we accelerated performance acros

2、s all of our segments,and again exceeded expectations for revenue,profit and free cash flow.Clients globally continue to leverage our technology and domain expertise to drive productivity in their operations and deliver real business value with AI.Our AI book of business now stands at more than$9.5

3、billion,said Arvind Krishna,IBM chairman,president and chief executive officer.Given the strength of our business,we are raising our full-year outlook for revenue growth and free cash flow.”Third-Quarter Highlights Revenue Revenue of$16.3 billion,up 9 percent,up 7 percent at constant currency Softwa

4、re revenue up 10 percent,up 9 percent at constant currency Consulting revenue up 3 percent,up 2 percent at constant currency Infrastructure revenue up 17 percent,up 15 percent at constant currency Profit Gross Profit Margin:GAAP:57.3 percent,up 1.1 points;Operating(Non-GAAP):58.7 percent,up 1.2 poin

5、ts Pre-Tax Income Margin:GAAP:14.9 percent,up 20.2 points;Operating(Non-GAAP):18.6 percent,up 2.0 points Cash Flow Year to date,net cash from operating activities of$9.2 billion;free cash flow of$7.2 billion THIRD-QUARTER 2025 INCOME STATEMENT SUMMARY Revenue Gross Profit Gross Profit Margin Pre-tax

6、 Income Pre-tax Income Margin Net Income Diluted Earnings Per Share GAAP from Continuing Operations$16.3 B$9.4 B 57.3%$2.4 B 14.9%$1.7 B(2)$1.84(2)Year/Year 9%(1)11%1.1 Pts NM(3)20.2 Pts(3)NM(2,3)NM(2,3)Operating (Non-GAAP)$9.6 B 58.7%$3.0 B 18.6%$2.5 B$2.65 Year/Year 11%1.2 Pts 22%2.0 Pts 17%15%(1)