IBM Q2 revenue up 1% to $17.2 billion, GAAP EPS $2.27; updates 2026 revenue outlook
IBM reported second-quarter 2026 revenue of $17.2 billion, up 1% from a year earlier, while GAAP diluted earnings per share fell to $2.27 from $2.31. The company now expects full-year 2026 constant currency revenue growth of 4% to 5% and continues to expect free cash flow to rise by about $1 billion year over year. Shareholders get mixed signals: revenue edged up and operating (non-GAAP) EPS rose 5% to $2.93, but GAAP earnings declined.
Key points
- Q2 2026 revenue $17.2 billion, up 1%; GAAP gross profit margin 57.7%, down 1.0 points
- GAAP diluted EPS $2.27 vs $2.31 a year earlier; operating (non-GAAP) diluted EPS $2.93, up 5%
- Full-year 2026 outlook: constant currency revenue growth of 4% to 5%; free cash flow expected to rise about $1 billion
- Board declared a quarterly dividend of $1.69 per share, payable September 10, 2026, to holders of record on August 10, 2026
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:16 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 22, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.